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Abstrakty
Adverse effects of inaccurate demand forecasts; stockouts, overstocks, customer loss have led academia and the business world towards accurate demand forecasting methods. Artificial Neural Network (ANN) is capable of highly accurate forecasts integrated with many variables. The use of Price and Promotion variables have increased the accuracy while the addition of other relevant variables would decrease the occurrences of errors. The use of the Federal Funds Rate as an additional macro-economic variable to ANN forecasting models has been discussed in this research by the means of the accuracy measuring method: Average Relative Mean Absolute Error.
Czasopismo
Rocznik
Tom
Strony
34--44
Opis fizyczny
Bibliogr. 36 poz., fig., tab.
Twórcy
autor
- University of Moratuwa, Faculty of Engineering, Department of Transport and Logistics, Moratuwa, Sri Lanka
autor
- University of Moratuwa, Faculty of Engineering, Department of Transport and Logistics, Moratuwa, Sri Lanka
autor
- University of Moratuwa, Faculty of Engineering, Department of Transport and Logistics, Moratuwa, Sri Lanka
autor
- University of Moratuwa, Faculty of Engineering, Department of Transport and Logistics, Moratuwa, Sri Lanka
Bibliografia
- [1] Abolghasemi, M., Eshragh, A., Hurley, J., & Fahimnia, B. (2020). Demand Forecasting in the Presence of Systematic Events: Cases in Capturing Sales Promotions. International Journal of Production Economics, 230, 107892. https://doi.org/10.1016/j.ijpe.2020.107892
- [2] Adebayo, A. (2018). Predictive Sales Model using Multi-layer Neural Network with Backpropagation Algorithm. International Journal of Engineering Technology, Management and Applied Sciences, 6(4), 30–40.
- [3] Ali, Ö. G., Sayin, S., van Woensel, T., & Fransoo, J. (2009). SKU demand forecasting in the presence of promotions. Expert Systems with Applications, 36(10), 12340–12348. https://doi.org/10.1016/j.eswa.2009.04.052
- [4] Balachandra, K., Perera, H. N., & Thibbotuwawa, A. (2020). Human Factor in Forecasting and Behavioral Inventory Decisions: A System Dynamics Perspective. In International Conference on Dynamics in Logistics (pp. 516–526). Springer, Cham. https://doi.org/10.1007/978-3-030-44783-0_48
- [5] Barker, J. (2020). Machine learning in M4 : What makes a good unstructured model? International Journal of Forecasting, 36(1), 150–155. https://doi.org/10.1016/j.ijforecast.2019.06.001
- [6] Carbonneau, R., Laframboise, K., & Vahidov, R. (2008). Application of machine learning techniques for supply chain demand forecasting. European Journal of Operational Research, 184(3), 1140–1154. https://doi.org/10.1016/j.ejor.2006.12.004
- [7] Davydenko, A., & Fildes, R. (2016). Forecast Error Measures : Critical Review and Practical Recommendations. In Business Forecasting: Practical Problems and Solutions. John Wiley & Sons Inc. https://doi.org/10.13140/RG.2.1.4539.5281
- [8] Fildes, R., Ma, S., & Kolassa, S. (2019). Retail forecasting: Research and practice. International Journal of Forecasting, in press. https://doi.org/10.1016/j.ijforecast.2019.06.004
- [9] Goodfellow, I., Bengio, Y., & Courville, A. (2016). Deep learning. The MIT Press.
- [10] Guidolin, M., Guseo, R., & Mortarino, C. (2019). Regular and promotional sales in new product life cycles: Competition and forecasting. Computers and Industrial Engineering, 130, 250–257. https://doi.org/10.1016/j.cie.2019.02.026
- [11] Harris, N. L., Nadler, L. M., & Bhan, A. K. (1984). Review of Nils Nilsson Principles of Artificial Intelligence. The American Journal of Pathology, 117(2), 262-272. Retrieved from http://www.ncbi.nlm.nih.gov/ pubmed/6437232%5Cnhttp://www.pubmedcentral.nih.gov/articlerender.fcgi?artid=PMC1900435
- [12] Hewage, H. C., Perera, H. N., & De Baets, S. (2021). Forecast adjustments during post-promotional periods. European Journal of Operational Research, in press. https://doi.org/10.1016/j.ejor.2021.07.057
- [13] Huang, T., Fildes, R., & Soopramanien, D. (2014). The value of competitive information in forecasting FMCG retail product sales and the variable selection problem. European Journal of Operational Research, 237(2), 738–748. https://doi.org/10.1016/j.ejor.2014.02.022
- [14] Huang, T., Fildes, R., & Soopramanien, D. (2019). Forecasting retailer product sales in the presence of structural change. European Journal of Operational Research, 279(2), 459–470. https://doi.org/10.1016/j.ejor.2019.06.011
- [15] Ludwig, N., Feuerriegel, S., & Neumann, D. (2015). Putting Big Data analytics to work: Feature selection for forecasting electricity prices using the LASSO and random forests. Journal of Decision Systems, 24(1), 19–36. https://doi.org/10.1080/12460125.2015.994290
- [16] Ma, S., Fildes, R., & Huang, T. (2016). Demand forecasting with high dimensional data: The case of SKU retail sales forecasting with intra- and inter-category promotional information. European Journal of Operational Research, 249(1), 245–257. https://doi.org/10.1016/j.ejor.2015.08.029
- [17] Matharage, S. T., Hewage, U., & Perera, H. N. (2020). Impact of Sharing Point of Sales Data and Inventory Information on Bullwhip Effect. In 2020 IEEE International Conference on Industrial Engineering and Engineering Management (IEEM) (pp. 857–861). IEEE. https://doi.org/10.1109/IEEM45057.2020.9309733
- [18] Ni, D., Xiao, Z., & Lim, M. K. (2019). A systematic review of the research trends of machine learning in supply chain management. International Journal of Machine Learning and Cybernetics, 11, 1463–1482. https://doi.org/10.1007/s13042-019-01050-0
- [19] Oliva, R., & Watson, N. (2009). Managing functional biases in organizational forecasts: A case study of consensus forecasting in supply chain planning. Production and Operations Management, 18(2), 138–151. https://doi.org/10.1111/j.1937-5956.2009.01003.x
- [20] Parker, S. (2014). Principles and Practice. IFLA Journal, 32(3), 179-180. https://doi.org/10.1177/0340035206070163
- [21] Perera, H. N., & Sudusinghe, J. I. (2017). Longitudinal analysis of supply chain transformation project management. 2017 Moratuwa Engineering Research Conference (MERCon) (pp. 153–158). IEEE. https://doi.org/10.1109/MERCon.2017.7980473
- [22] Perera, H. N., Thibbotuwawa, A. I., Rajasooriyar, C., & Sugathadasa, P. R. S. (2016). Managing Supply Chain Transformation Projects in the Manufacturing Sector: Case-based Learning from Sri Lanka. In Conference on Research for Transportand Logistics Industry 2016 (pp. 143–145). R4TLI-D13.
- [23] Sagaert, Y. R., Aghezzaf, E. H., Kourentzes, N., & Desmet, B. (2018a). Tactical sales forecasting using a very large set of macroeconomic indicators. European Journal of Operational Research, 264(2), 558–569. https://doi.org/10.1016/j.ejor.2017.06.054
- [24] Sagaert, Y. R., Aghezzaf, E. H., Kourentzes, N., & Desmet, B. (2018b). Temporal big data for tactical sales forecasting in the tire industry. Interfaces, 48(2), 121-129. https://doi.org/10.1287/inte.2017.0901
- [25] Shahrabi, J., Mousavi, S. S., & Heydar, M. (2009). Supply chain demand forecasting: A comparison of machine learning techniques and traditional methods. Journal of Applied Sciences, 9(3), 521–527. https://doi.org/10.3923/jas.2009.521.527
- [26] Sharma, G. D., Singh, S., & Singh, G. S. (2012). Impact of Macroeconomic Variables on Economic Performance: An Empirical Study of India and Sri Lanka. SSRN Electronic Journal, 1-35. https://doi.org/10.2139/ssrn.1836542
- [27] Spiliotis, E., Makridakis, S., Semenoglou, A. A., & Assimakopoulos, V. (2020). Comparison of statistical and machine learning methods for daily SKU demand forecasting. Operational Research. https://doi.org/10.1007/s12351-020-00605-2
- [28] Srivastav, R., Sudheer, K., & Chaubey, I. (2007). A simplified approach to quantify predictive and parametric uncertainty in artificial neural network hydrologic models. Water Resour, 43(10), W10407. https://doi.org/10.1029/2006WR005352
- [29] Ranil, P. T., Sugathadasa, S., Senadheera, S. W., & Thibbotuwawa, A. (2021). A Study of Supply Chain Risk Factors of the Large-Scale Apparel Manufacturing Companies–Sri Lanka. Engineer, 54(03), 49–58. http://doi.org/10.4038/engineer.v54i3.7459
- [30] Sugathadasa, R., Wakkumbura, D., Perera, H. N., & Thibbotuwawa, A. (2021). Analysis of Risk Factors for Temperature-Controlled Warehouses. Operations and Supply Chain Management: An International Journal, 14(3), 320–337. http://doi.org/10.31387/oscm0460305
- [31] Suzuki, K. (2012). Artificial Neural Networks. Methodological Advances and Biomedical Applications. IntechOpen.
- [32] Tangjitprom, N. (2012). The Review of Macroeconomic Factors and Stock Returns. International Business Research, 5(8), 107–115. https://doi.org/10.5539/ibr.v5n8p107
- [33] Verstraete, G., Aghezzaf, E. H., & Desmet, B. (2020). A leading macroeconomic indicators’ based framework to automatically generate tactical sales forecasts. Computers and Industrial Engineering, 139, 106169. https://doi.org/10.1016/j.cie.2019.106169
- [34] Vhatkar, S., & Dias, J. (2016). Oral-Care Goods Sales Forecasting Using Artificial Neural Network Model. Procedia Computer Science, 79, 238–243. https://doi.org/10.1016/j.procs.2016.03.031
- [35] Wang, P.-H., Lin, G.-H., & Wang, Y.-C. (2019). Applied Sciences Application of Neural Networks to Explore Manufacturing Sales Prediction. Applied Sciences, 9(23), 5107. https://doi.org/10.3390/app9235107
- [36] Yang, D., Goh, G. S. W., Xu, C., Zhang, A. N., & Akcan, O. (2015). Forecast UPC-level FMCG demand, Part I: Exploratory analysis and visualization. Proceedings – 2015 IEEE International Conference on Big Data (pp. 2106–2112). IEEE. https://doi.org/10.1109/BigData.2015.7363993
Uwagi
Opracowanie rekordu ze środków MNiSW, umowa Nr 461252 w ramach programu "Społeczna odpowiedzialność nauki" - moduł: Popularyzacja nauki i promocja sportu (2021).
Typ dokumentu
Bibliografia
Identyfikator YADDA
bwmeta1.element.baztech-d2901755-cd97-45df-a6a9-ddfd29b026dc