Modeling and forecasting customer demands
In this paper, I have made an attempt to seek what statistical models and forecasting techniques which are appropriate to support decision making in the operational level of supply chain while dealing with customer demands on short life cycle products to avoid undesired production condition. A typic...
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| Format: | Final Year Project |
| Language: | English |
| Published: |
2011
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10356/45011 |
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| Institution: | Nanyang Technological University |
| Language: | English |
| Summary: | In this paper, I have made an attempt to seek what statistical models and forecasting techniques which are appropriate to support decision making in the operational level of supply chain while dealing with customer demands on short life cycle products to avoid undesired production condition. A typical demand curve for these short life products consists of rapid growth, maturity and decline phases coupled with seasonal variation.
The literature study provides knowledge about the forecasting method ranges and their applications. Whilst, studying the current forecasting practices gives knowledge about what have been done in the company and the company’s expectations with respect to this matter. The company’s expectations are related to the general objectives of the forecasting process which is described through an objective tree approach and the solutions for the company’s specific forecasting problems which are identified through a system diagram and causal diagram approaches. |
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