Category: Forecasting

Risk management is a process of identifying risks, evaluating the consequences as well as defining effectual methods of controlling risks and responding to them (Miller 2003). Risk management is a major task for the managers in any organization. So as to manage risks appropriately, the risks associated with each service delivery or policy option needs…

Table of Contents Introduction Summary References Introduction Forecasting refers to the method of being able to predict what is going to happen in the future, and in business, the future is narrowly defined by the existing economic conditions. When organizations want to develop a forecast associated with their immediate performance, they collect data on previous…

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…

Abstract: Forecasting The term broadly refers to the process of prediction as per the customers 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…

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…

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…

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…

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…