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Forecasting Essays

6 samples in this category

Forecasting in Supply Chain and Demand Management: Review of Literature

Review of Literature This section explores selected journal articles in relation to the research objectives outlined in the introductory part of the research paper. The articles are critically reviewed to determine the key components and factors in forecasting, the forecasting techniques and models discussed, proposed and applied and the challenges of implementation in warehousing forecasting demand management. Furthermore, the research approach and methodology used by the studies will be evaluated to assess the assimilation of information and knowledge development. Forecasting...
5 Pages 2436 Words

A Comparative Evaluation of Monthly Electricity: Consumption Forecasting in Sri Lanka

Abstract Sri Lanka as a developing country, over 98% households have been electrified and it is crucial to plan for future electricity demand in order to match the demand with supply. This study aims at forecasting monthly electricity consumption in Sri Lanka and explores the weather influence on that electricity consumption. Due to higher living standards, weather has a considerable impact on the short-term electricity demand due to the use of fans, air conditioners and refrigerators. There are three main...
7 Pages 3075 Words

Ways to Make Sales Forecasting More Accurate: Argumentative Essay

Abstract This paper explores seven published articles that talk about the importance of making an accurate Sales Forecasting. This paper will answer how Sales Forecasting helps business people or others because it tells the seller the future trends of what people in general like, and the sellers can know what their customers want. Therefore, the seller and company owner can create a bright and reasonable plan for sales. All the business people require to learn Sales Forecasting for establishing a...
7 Pages 3116 Words

Comparative Study on Soft Computing Approach in Weather Forecasting: Analytical Essay

Abstract– In a developing country, like India where the agriculture & industries are base for the national economy, the weather conditions play leading role for their proper development and smooth running. Therefore having accurate weather forecasting information may allow farmers or industry managers to make better decisions on managing their farms. Soft computing using ANN is an innovative approach to construct a computationally intelligent system that is able to process nonlinear weather conditions within a specific domain, and make prediction....
4 Pages 2026 Words

Need of Sales Forecasting within the Company: Analytical Essay

Forecasting is nothing but predictions and hence closely related with the information flow of a supply chain. In this chapter, we will discuss the information flow in a supply chain from different perspectives like information sharing with channel partners, different obstacles in sharing information and bullwhip effect. Describing and analyzing the forecasting process is our purpose. A deeper understanding of the concept of forecasting will be achieved by discussing it together with the role of forecasting in various managerial functions....
5 Pages 2164 Words

Forecasting in Pharmaceutical Industry Using Artificial Intelligence: Current and Future Aspects

Abstract: “Forecasting” The term broadly refers to the process of prediction as per the customer’s demand based on the huge historical sales data in the pharmaceutics industry. The aim of forecasting help to understand the market value and enable to predict the optimum level of customer demands. Thereby business management facilitates augmenting the future requirements from the previous sales quantity documents by considering both major and minor factors in a broad spectrum. This full-length Paper discusses the details of marketing,...
4 Pages 1929 Words
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