SlideShare a Scribd company logo
1 of 8
Tools and Techniques
for Demand and Supply
Forecasting
Aravind.T.S (Assist.Prof)
aravindcanon@gmail.com
Succession or Replacement Charts
Who has been groomed/developed and is ready
for promotion right NOW?
SUCCESSION PLANNING (Specimen)
REPLACEMENT CHART
FOR EXECUTIVE POSITIONS
POSITION REPLACEMENT CARDS
FOR EACH INDIVIDUAL POSITION
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
POSITION WESTERN DIVISION SALES MANAGER
DANIEL BEALER Western Division Sales Mgr Outstanding Ready Now
PRESENT PROMOTION
POSSIBLE CANDIDATES CURRENT POSITION PERFORMANCE POTENTIAL
SHARON GREEN Western Oregon Sales Manager Outstanding Ready Now
GEORGE WEI N. California Sales Manager Outstanding Needs Training
HARRY SHOW Idaho/Utah Sales Manager Satisfactory Needs Training
TRAVIS WOOD Seattle Area Sales Manager Satisfactory Questionable
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Human Resource Information Systems
(HRIS)
An employee database that can be searched
when vacancies occur.
HUMAN RESOURCE INFORMATION
SYSTEMS (HRIS)
PERSONAL DATA
Age, Gender, Dependents, Marital status, etc
EDUCATION & SKILLS
Degrees earned, Licenses, Certifications
Languages spoken, Specialty skills
Ability/knowledge to operate specific machines/equipment/software
JOB HISTORY
Job Titles held, Location in Company, Time in each position, etc.
Performance appraisals, Promotions received, Training & Development
MEMBERSHIPS & ACHIEVEMENTS
Professional Associations, Recognition and Notable accomplishments
PREFERENCES & INTERESTS
Career goals, Types of positions sought
Geographic preferences
CAPACITY FOR GROWTH
Potential for advancement, upward mobility and growth in the company
Transition Matrices (Markov
Analysis)
A chart that lists job categories held in one
period and shows the proportion of
employees in each of those job categories in a
future period.
It answers two questions:
1. “Where did people in each job category go?”
2. “Where did people now in each job category
come from?
Personnel / Yield Ratios
How much work will it take to recruit one new
accountant?
Specimen: Yield ratios for recruiting a
Cost Accountant
FOR EVERY 12 APPLICATIONS RECEIVED, ONLY 1 LOOKS PROMISING
ENOUGH TO INVITE FOR AN INTERVIEW
OF EVERY 5 PERSONS INTERVIEWED, ONLY 1 IS ACTUALLY OFFERED A
POSITION IN THE ORGANIZATION
OF EVERY 3 JOB OFFERS MADE, ONLY 2 ACCEPT THE POSITION
OF EVERY 10 NEW WORKERS WHO BEGIN THE TRAINING PROGRAM, ONLY 9
SUCCESSFULLY COMPLETE THE PROGRAM
THUS: 100 APPLICATIONS MUST BE RECEIVED, so that
8.33 JOB INTERVIEWS CAN BE HELD, so that
1.67 JOB OFFERS CAN BE MADE, and
1.11 PEOPLE MUST BE TRAINED, so that we get
ONE NEW COST ACCOUNTANT!!!

More Related Content

Similar to 4 tools and techniques for forecasting

Verismo HR your everyday business
Verismo HR your everyday businessVerismo HR your everyday business
Verismo HR your everyday businessVerismo Systems AB
 
Samya Kaur - Resume
Samya Kaur - Resume Samya Kaur - Resume
Samya Kaur - Resume Samya Kochar
 
Samya Kaur - Resume
Samya Kaur - Resume Samya Kaur - Resume
Samya Kaur - Resume Samya Kochar
 
SFSF REC_Sales Guide and Tips for Identifying Recruiting Strategies and Opps....
SFSF REC_Sales Guide and Tips for Identifying Recruiting Strategies and Opps....SFSF REC_Sales Guide and Tips for Identifying Recruiting Strategies and Opps....
SFSF REC_Sales Guide and Tips for Identifying Recruiting Strategies and Opps....MarkPalma9
 
Hr and Payroll Software
 Hr and Payroll Software Hr and Payroll Software
Hr and Payroll Softwareroadmappost
 
Intro HRadvance 2010
Intro HRadvance 2010Intro HRadvance 2010
Intro HRadvance 2010maikbeekmans
 
Manpower planning process
Manpower planning processManpower planning process
Manpower planning processSorab Sadri
 
Data Sheet: Succession@Work
Data Sheet: Succession@WorkData Sheet: Succession@Work
Data Sheet: Succession@WorkSaba Software
 
Your Team's Got Talent
Your Team's Got Talent Your Team's Got Talent
Your Team's Got Talent Kara Rice
 
Your Team's Got Talent! Performance Gap Analysis
Your Team's Got Talent!  Performance Gap AnalysisYour Team's Got Talent!  Performance Gap Analysis
Your Team's Got Talent! Performance Gap AnalysisKara Rice
 
Darleshia W. Warner Cover Letter & Resume
Darleshia W. Warner Cover Letter & ResumeDarleshia W. Warner Cover Letter & Resume
Darleshia W. Warner Cover Letter & ResumeDarleshia Warner
 
Machine Learning and the Changing World of Work
Machine Learning and the Changing World of WorkMachine Learning and the Changing World of Work
Machine Learning and the Changing World of WorkWorkday, Inc.
 
Darleshia W. Warner Cover Letter & Resume
Darleshia W. Warner Cover Letter & ResumeDarleshia W. Warner Cover Letter & Resume
Darleshia W. Warner Cover Letter & ResumeDarleshia Warner
 

Similar to 4 tools and techniques for forecasting (20)

Harrison Assessments Succession and Career Solutions
Harrison Assessments Succession and Career SolutionsHarrison Assessments Succession and Career Solutions
Harrison Assessments Succession and Career Solutions
 
Recruiting marketing analysts
Recruiting marketing analystsRecruiting marketing analysts
Recruiting marketing analysts
 
Verismo HR your everyday business
Verismo HR your everyday businessVerismo HR your everyday business
Verismo HR your everyday business
 
Competency workshop
Competency workshopCompetency workshop
Competency workshop
 
HR Competency Workshop
HR Competency WorkshopHR Competency Workshop
HR Competency Workshop
 
Samya Kaur - Resume
Samya Kaur - Resume Samya Kaur - Resume
Samya Kaur - Resume
 
Samya Kaur - Resume
Samya Kaur - Resume Samya Kaur - Resume
Samya Kaur - Resume
 
SFSF REC_Sales Guide and Tips for Identifying Recruiting Strategies and Opps....
SFSF REC_Sales Guide and Tips for Identifying Recruiting Strategies and Opps....SFSF REC_Sales Guide and Tips for Identifying Recruiting Strategies and Opps....
SFSF REC_Sales Guide and Tips for Identifying Recruiting Strategies and Opps....
 
HRP.ppt
HRP.pptHRP.ppt
HRP.ppt
 
Hr and Payroll Software
 Hr and Payroll Software Hr and Payroll Software
Hr and Payroll Software
 
Intro HRadvance 2010
Intro HRadvance 2010Intro HRadvance 2010
Intro HRadvance 2010
 
Manpower planning process
Manpower planning processManpower planning process
Manpower planning process
 
Data Sheet: Succession@Work
Data Sheet: Succession@WorkData Sheet: Succession@Work
Data Sheet: Succession@Work
 
Brenda Santrock_resume_
Brenda Santrock_resume_Brenda Santrock_resume_
Brenda Santrock_resume_
 
Your Team's Got Talent
Your Team's Got Talent Your Team's Got Talent
Your Team's Got Talent
 
Your Team's Got Talent! Performance Gap Analysis
Your Team's Got Talent!  Performance Gap AnalysisYour Team's Got Talent!  Performance Gap Analysis
Your Team's Got Talent! Performance Gap Analysis
 
Darleshia W. Warner Cover Letter & Resume
Darleshia W. Warner Cover Letter & ResumeDarleshia W. Warner Cover Letter & Resume
Darleshia W. Warner Cover Letter & Resume
 
Competency
Competency Competency
Competency
 
Machine Learning and the Changing World of Work
Machine Learning and the Changing World of WorkMachine Learning and the Changing World of Work
Machine Learning and the Changing World of Work
 
Darleshia W. Warner Cover Letter & Resume
Darleshia W. Warner Cover Letter & ResumeDarleshia W. Warner Cover Letter & Resume
Darleshia W. Warner Cover Letter & Resume
 

More from Dr.Aravind TS

5 psychology to boost sales
5 psychology to boost sales5 psychology to boost sales
5 psychology to boost salesDr.Aravind TS
 
Kerala inland vessel rules 2010
Kerala inland vessel rules 2010Kerala inland vessel rules 2010
Kerala inland vessel rules 2010Dr.Aravind TS
 
Clubhouse for Learning
Clubhouse for Learning Clubhouse for Learning
Clubhouse for Learning Dr.Aravind TS
 
50 management movies for MBA Students
50 management movies for MBA Students 50 management movies for MBA Students
50 management movies for MBA Students Dr.Aravind TS
 
30 business strategies for mba students
30 business strategies for mba students30 business strategies for mba students
30 business strategies for mba studentsDr.Aravind TS
 
Top 10 pocket friendly mba colleges in Kerala | Aravind TS
Top 10 pocket friendly mba colleges in Kerala | Aravind TS Top 10 pocket friendly mba colleges in Kerala | Aravind TS
Top 10 pocket friendly mba colleges in Kerala | Aravind TS Dr.Aravind TS
 
Kerala Management Aptitude Test 2021 (K-MAT 2021) Registration Process
Kerala Management Aptitude Test 2021 (K-MAT 2021) Registration Process Kerala Management Aptitude Test 2021 (K-MAT 2021) Registration Process
Kerala Management Aptitude Test 2021 (K-MAT 2021) Registration Process Dr.Aravind TS
 
Top MBA colleges in India 2021 'B' category
Top MBA colleges in India 2021 'B' category Top MBA colleges in India 2021 'B' category
Top MBA colleges in India 2021 'B' category Dr.Aravind TS
 
20 life lessons in 2020
20 life lessons in 202020 life lessons in 2020
20 life lessons in 2020Dr.Aravind TS
 
Human Resource Management
Human Resource Management Human Resource Management
Human Resource Management Dr.Aravind TS
 
Human resource management part 2
Human resource management part 2Human resource management part 2
Human resource management part 2Dr.Aravind TS
 
Human resource management part 1
Human resource management part 1Human resource management part 1
Human resource management part 1Dr.Aravind TS
 
Top mba colleges in india in 2021 'BB' category
Top mba colleges in india in 2021 'BB' categoryTop mba colleges in india in 2021 'BB' category
Top mba colleges in india in 2021 'BB' categoryDr.Aravind TS
 
Top mba colleges in india in 2021 comes under bbb category
Top mba colleges in india in 2021 comes under bbb category Top mba colleges in india in 2021 comes under bbb category
Top mba colleges in india in 2021 comes under bbb category Dr.Aravind TS
 
Top mba colleges in india in 2021 comes under 'bbb+' category
Top mba colleges in india in 2021 comes under 'bbb+' categoryTop mba colleges in india in 2021 comes under 'bbb+' category
Top mba colleges in india in 2021 comes under 'bbb+' categoryDr.Aravind TS
 
Top mba colleges in india in 2021 'A' category
Top mba colleges in india in 2021 'A' categoryTop mba colleges in india in 2021 'A' category
Top mba colleges in india in 2021 'A' categoryDr.Aravind TS
 
Top mba colleges in india in 2021 comes under 'AA' category
Top mba colleges in india in 2021 comes under 'AA' category Top mba colleges in india in 2021 comes under 'AA' category
Top mba colleges in india in 2021 comes under 'AA' category Dr.Aravind TS
 
Top mba colleges in india in 2021 comes under aaa category
Top mba colleges in india in 2021  comes under aaa category Top mba colleges in india in 2021  comes under aaa category
Top mba colleges in india in 2021 comes under aaa category Dr.Aravind TS
 

More from Dr.Aravind TS (20)

5 psychology to boost sales
5 psychology to boost sales5 psychology to boost sales
5 psychology to boost sales
 
CMAT 2022
CMAT 2022CMAT 2022
CMAT 2022
 
Kmat 2022
Kmat 2022Kmat 2022
Kmat 2022
 
Kerala inland vessel rules 2010
Kerala inland vessel rules 2010Kerala inland vessel rules 2010
Kerala inland vessel rules 2010
 
Clubhouse for Learning
Clubhouse for Learning Clubhouse for Learning
Clubhouse for Learning
 
50 management movies for MBA Students
50 management movies for MBA Students 50 management movies for MBA Students
50 management movies for MBA Students
 
30 business strategies for mba students
30 business strategies for mba students30 business strategies for mba students
30 business strategies for mba students
 
Top 10 pocket friendly mba colleges in Kerala | Aravind TS
Top 10 pocket friendly mba colleges in Kerala | Aravind TS Top 10 pocket friendly mba colleges in Kerala | Aravind TS
Top 10 pocket friendly mba colleges in Kerala | Aravind TS
 
Kerala Management Aptitude Test 2021 (K-MAT 2021) Registration Process
Kerala Management Aptitude Test 2021 (K-MAT 2021) Registration Process Kerala Management Aptitude Test 2021 (K-MAT 2021) Registration Process
Kerala Management Aptitude Test 2021 (K-MAT 2021) Registration Process
 
Top MBA colleges in India 2021 'B' category
Top MBA colleges in India 2021 'B' category Top MBA colleges in India 2021 'B' category
Top MBA colleges in India 2021 'B' category
 
20 life lessons in 2020
20 life lessons in 202020 life lessons in 2020
20 life lessons in 2020
 
Human Resource Management
Human Resource Management Human Resource Management
Human Resource Management
 
Human resource management part 2
Human resource management part 2Human resource management part 2
Human resource management part 2
 
Human resource management part 1
Human resource management part 1Human resource management part 1
Human resource management part 1
 
Top mba colleges in india in 2021 'BB' category
Top mba colleges in india in 2021 'BB' categoryTop mba colleges in india in 2021 'BB' category
Top mba colleges in india in 2021 'BB' category
 
Top mba colleges in india in 2021 comes under bbb category
Top mba colleges in india in 2021 comes under bbb category Top mba colleges in india in 2021 comes under bbb category
Top mba colleges in india in 2021 comes under bbb category
 
Top mba colleges in india in 2021 comes under 'bbb+' category
Top mba colleges in india in 2021 comes under 'bbb+' categoryTop mba colleges in india in 2021 comes under 'bbb+' category
Top mba colleges in india in 2021 comes under 'bbb+' category
 
Top mba colleges in india in 2021 'A' category
Top mba colleges in india in 2021 'A' categoryTop mba colleges in india in 2021 'A' category
Top mba colleges in india in 2021 'A' category
 
Top mba colleges in india in 2021 comes under 'AA' category
Top mba colleges in india in 2021 comes under 'AA' category Top mba colleges in india in 2021 comes under 'AA' category
Top mba colleges in india in 2021 comes under 'AA' category
 
Top mba colleges in india in 2021 comes under aaa category
Top mba colleges in india in 2021  comes under aaa category Top mba colleges in india in 2021  comes under aaa category
Top mba colleges in india in 2021 comes under aaa category
 

4 tools and techniques for forecasting

  • 1. Tools and Techniques for Demand and Supply Forecasting Aravind.T.S (Assist.Prof) aravindcanon@gmail.com
  • 2. Succession or Replacement Charts Who has been groomed/developed and is ready for promotion right NOW?
  • 3. SUCCESSION PLANNING (Specimen) REPLACEMENT CHART FOR EXECUTIVE POSITIONS POSITION REPLACEMENT CARDS FOR EACH INDIVIDUAL POSITION - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - POSITION WESTERN DIVISION SALES MANAGER DANIEL BEALER Western Division Sales Mgr Outstanding Ready Now PRESENT PROMOTION POSSIBLE CANDIDATES CURRENT POSITION PERFORMANCE POTENTIAL SHARON GREEN Western Oregon Sales Manager Outstanding Ready Now GEORGE WEI N. California Sales Manager Outstanding Needs Training HARRY SHOW Idaho/Utah Sales Manager Satisfactory Needs Training TRAVIS WOOD Seattle Area Sales Manager Satisfactory Questionable - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
  • 4. Human Resource Information Systems (HRIS) An employee database that can be searched when vacancies occur.
  • 5. HUMAN RESOURCE INFORMATION SYSTEMS (HRIS) PERSONAL DATA Age, Gender, Dependents, Marital status, etc EDUCATION & SKILLS Degrees earned, Licenses, Certifications Languages spoken, Specialty skills Ability/knowledge to operate specific machines/equipment/software JOB HISTORY Job Titles held, Location in Company, Time in each position, etc. Performance appraisals, Promotions received, Training & Development MEMBERSHIPS & ACHIEVEMENTS Professional Associations, Recognition and Notable accomplishments PREFERENCES & INTERESTS Career goals, Types of positions sought Geographic preferences CAPACITY FOR GROWTH Potential for advancement, upward mobility and growth in the company
  • 6. Transition Matrices (Markov Analysis) A chart that lists job categories held in one period and shows the proportion of employees in each of those job categories in a future period. It answers two questions: 1. “Where did people in each job category go?” 2. “Where did people now in each job category come from?
  • 7. Personnel / Yield Ratios How much work will it take to recruit one new accountant?
  • 8. Specimen: Yield ratios for recruiting a Cost Accountant FOR EVERY 12 APPLICATIONS RECEIVED, ONLY 1 LOOKS PROMISING ENOUGH TO INVITE FOR AN INTERVIEW OF EVERY 5 PERSONS INTERVIEWED, ONLY 1 IS ACTUALLY OFFERED A POSITION IN THE ORGANIZATION OF EVERY 3 JOB OFFERS MADE, ONLY 2 ACCEPT THE POSITION OF EVERY 10 NEW WORKERS WHO BEGIN THE TRAINING PROGRAM, ONLY 9 SUCCESSFULLY COMPLETE THE PROGRAM THUS: 100 APPLICATIONS MUST BE RECEIVED, so that 8.33 JOB INTERVIEWS CAN BE HELD, so that 1.67 JOB OFFERS CAN BE MADE, and 1.11 PEOPLE MUST BE TRAINED, so that we get ONE NEW COST ACCOUNTANT!!!