Supply forecasting technique
- 1. SUPPLY FORECASTING TECHNIQUE Name – Rohanjaiswal Roll no: Bwu/Bba/16/042 Sub code: bba 403
- 2. Supply forecasting • Human Resource supply forecasting is the process of estimating availability of human resource followed after demandfor testing of human resource.
- 3. Supply Forecasting Techniques • Trend analysis • Competency model • Replacement Charts • Staffing table • Succession Planning • Markov Analysis
- 4. Trend analysis Trend analysis involves collecting and evaluating data to identify patternsof information that might impact the future.
- 5. Competency Model A future-oriented model that first reviews competencies that are aligned with an organization’s mission, vision, and strategy, and then aims to identify an ideal workforce in terms of these competencies .
- 6. Replacement chart • A • A chart used to estimate vacancies in higher level jobsand identify how potential HR supply can fill these vacancies via internal movementsfrom lower levels jobs .
- 7. Staffing table Staffing tables are graphic representations of all organizational jobs, along with the numbers of employees currently occupying those jobs and future employment requirements, which can be derived from demand forecasts.
- 8. Succession Planning Succession planning is a longer-term process of grooming a successor (selected from a pool of candidates on the basis of perceived competency) for management or critical positions.
- 9. Markov analysis Analysis that helps to predict internal employee movement from one year to another by identifying percentages of employees who remain in their jobs, get promoted or demoted, transfer, and exit out of the organization
- 10. conclusion • Human resource forecasting is all about estimatingthe future demand and supply of human resources in an organization.
- 11. Thank you ! & have a nice day !