Demand Forecasting Dynamic Equation Model

Juping Shao (), Yanan Sun () and Bernd Noche ()
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Juping Shao: Suzhou University of Science and Technology
Yanan Sun: Suzhou Industrial Park Anwood Logistics System Co., Ltd
Bernd Noche: University Duisburg-Essen

Chapter Chapter 3 in Optimization of Integrated Supply Chain Planning under Multiple Uncertainty, 2015, pp 37-55 from Springer

Abstract: Abstract Demand forecasting is the prerequisite and foundation of carrying out the work of supply chain logistics plan. In many cases, demand forecasting is often used by managers to make procurement plans, production plans, transportation plans, and inventory plans, etc. However, the uncertain internal and external factors of the supply chain make prediction results always different from the reality. It means that there is a gap between forecasting and the reality. When the difference between forecast data and actual data is too significant, you will inevitably fail, even if the planning process itself is very close. Therefore, the effectiveness of supply chain is greatly affected by different kinds of forecasting approaches and technology used by supply chain node enterprises.

Keywords: Supply Chain; Customer Demand; Average Relative Error; Demand Forecast; Forecast Result (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-662-47250-7_3

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DOI: 10.1007/978-3-662-47250-7_3

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