Demand Forecasting Using a Growth Model and Negative Binomial Regression Framework

Demand Forecasting Using a Growth Model and Negative Binomial Regression Framework

In this paper, we look at demand forecasting by using a growth model and negative binomial regression framework. Using cumulative sales, we model the sales data for different wristwatch brands and relate it to their sales and growth characteristics. We apply clustering to determine the distinctive c...

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Bibliographic Details
Main Authors: ONG, Cally Yeru, CHOY, Murphy, CHEONG, Michelle L. F.
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2013
Subjects:
Growth models
watch industry
sales forecasting
MITB student
Computer Sciences
Operations Research, Systems Engineering and Industrial Engineering
Sales and Merchandising
Online Access:https://ink.library.smu.edu.sg/sis_research/1675
https://ink.library.smu.edu.sg/context/sis_research/article/2674/viewcontent/DemandForecasting_GrowthModel_SAS_2013_av.pdf
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Institution: Singapore Management University
Language: English
Description
Summary:In this paper, we look at demand forecasting by using a growth model and negative binomial regression framework. Using cumulative sales, we model the sales data for different wristwatch brands and relate it to their sales and growth characteristics. We apply clustering to determine the distinctive characteristics of each individual cluster. Four different growth models are applied to the clusters to find the most suitable growth model to be used. After determining the appropriate growth model to be applied, we then forecast the sales by applying the model to new products being launched in the market and continue to monitor the model further.

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