Demand forecasting by incorporating sales patterns of product groups

• Main Author: Liew, You Sheng
• Other Authors: Jagath C Rajapakse
• Format: Final Year Project
• Language: English
• Published: Nanyang Technological University 2023
• Subjects: Engineering::Computer science and engineering::Mathematics of computing::Probability and statistics
• Online Access: https://hdl.handle.net/10356/166041
• Institution: Nanyang Technological University

Accurate demand forecasting is crucial for industries who have both high lead time in productions and high inventory cost for holding stock. If demand is underestimated or overestimated, it can have negative consequences for the re- tailer’s cost and revenue. For example, stock-outs can disappoin...