Title

Intelligent Systems Techniques And Applications In Product Forecasting

Abstract

Product forecasting is a critical function in the rapid turnover of goods and products through retail outlets. Accurate forecasts allow retail managers to dramatically increase inventory turnover and reduce the number of markdowns. Such ability is more responsive to the market, allowing a better match to consumer demand, fewer outages, and lower costs. The improvements spill over into the manufacturing side as well. Advance knowledge of demand allows more complete production planning, reducing costs, lowering inventory, and determining capacity requirements. Producers use forecasts as hedges against lost control of forward scheduling (Curry, 1993). Therefore, forecasts are beneficial for the consumer, the retailer, and the producer in the distribution chain.

Publication Date

1-1-2002

Publication Title

Intelligent Systems: Technology and Applications, Six Volume Set

Number of Pages

I-277

Document Type

Article; Book Chapter

Personal Identifier

scopus

Socpus ID

85057287308 (Scopus)

Source API URL

https://api.elsevier.com/content/abstract/scopus_id/85057287308

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