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Accurate demand forecasting could reduce the uncertainty of inventory and provide theoretical basis for strategic decisions. Without the accurate prediction of actual market demand, there will be a supply shortage or surplus, which influences the enterprise's inventory level and costs of operation. Product substitution is an important factor which affects the precision of demand forecasting. It could...
Product life cycle management plays a crucial role in the footwear products demand forecasting. However, it is difficult to predict the recession point of the product life cycle curve. This paper proposes an integrated forecasting system where wavelet transforms and Polynomial Fitting based on Artificial Bee Colony algorithm are combined for footwear products demand forecasting. First, the method...
Weather Sensitive Demand is defined as abnormal variation of demand from seasonal fluctuation because of weather condition's abnormal fluctuation. The majority of retailers acknowledge the impacts of weather. However, none of the conventional predictive modeling processes adequately address the impact of weather. In this paper, a weather sensitive demand forecasting method based on support vector...
Product substitution is a phenomenon which occurs when the product is out of stock, and it distorts the true demand for the product while reducing retailers' stock-out losses and improving service levels at the same time, that is expanding the demand for substitutable products. Therefore, how to estimate the product substitution is a key to improve the demand forecasting accuracy. Based on this, a...
An accurate demand forecasting model has academic and practical significance to supply chain management for China's retail industry. In this paper, a novel demand forecasting model named WFSSVM (Wrapper Feature Selection optimized SVM) is proposed. Genetic algorithm based wrapper feature selection method is firstly employed to analyze the sales data of a kind product (including various kinds of brand)...
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