Analogous Forecasting of Products with a Short Life Cycle
Journal Title: Decision Making in Manufacturing and Services - Year 2010, Vol 4, Issue 1
Abstract
Managing a supply chain for products with a short life cycle, like fashion apparel, high-tech, personal computers, toys, CD’s etc., is challenging for many companies (Fisher and Raman, 1999). Because the life cycles of these products are too short for standard time- series forecasting methods (not longer than one – two years), an important way of overcoming the challenges of managing supply chains for such products is to find appropriate forecasting methodologies. The standard forecasting methods require some historical data, which are often unavailable at the time when the forecasts are being performed for products with a short life cycle (Lin, 2005). The method described in this article allows forecasters to use life cycles of similar, analogous products to arrive at the initial forecasts for the product(s) at hand.
Authors and Affiliations
Natalia Szozda
Keywords
Related Articles
- EP ID EP166404
- DOI 10.7494/dmms.2010.4.2.71
- Views 77
- Downloads 0
Elevator Trip Distribution for Inconsistent Passenger Input-Output Data
Accurate traffic data are the basis for group control of elevators and its performance evaluation by trace driven simulation. The present practice estimates a time series of inter-floor passenger traffic based on commonl...
Coordinating Contracts in SCM: A Review of Methods and Literature
Supply chain coordination through contracts has been a burgeoning area of re- search in recent years. In spite of rapid development of research, there are only a few structured analyses of assumptions, methods, and appli...
Concept of Industry 4.0-Related Manufacturing Technology Maturity Model (ManuTech Maturity Model – MTMM)
The main objective of this article is to describe Industry 4.0 and key manufacturing-technology-related technological and business challenges for manufacturing companies. The groups especially interested in the industry...
Stretching the Least Squares to Embed Loss Functions Tables
The method of least squares is extended to accommodate a class of loss functions specified in the form of function tables. Each function table is embedded into the standard quadratic loss function so that the nonlinear l...
Advances in Cone-Based Preference Modeling for Decision Making with Multiple Criteria
Decision making with multiple criteria requires preferences elicited from the decision maker to determine a solution set. Models of preferences, that follow upon the concept of nondominated solutions introduced by Yu (19...