5
Research
Method
Journal
Description
Author
Research Results
Forecasting
Demand Forecasting
for Economic Order
Quantity in
Inventory
Management
Mathew,
Aju
Nair, E.M.
Somasekar
an
&
E, Jenson
Joseph
The current forecasting model in place at
Company has brought problems due to
ineffective forecasting that resulted in
inaccurate inventory level. In order to
help them reduce their stock outs, a
forecasting model was provided along
with an economic order quantity.
Finally, the economic order quantity is,
optimized the order quantity for each
product when an order is placed, reducing
the company’s product stock out issue. By
providing and recommending the
inventory control model, the results have
shown improvements in forecasting as
well as in cost reduction.
Comparative Study
on Forecasting
Accuracy among
Moving Average
Models with
Simulation and
PALTEL Stock
Market Data in
Palestine
Safi, Samir
K.
&
Dawoud,
Issam A.
In this paper, researchers have examined
the sensitivity of model selection based on
the criterion of forecasting accuracy. The
paper uses several methods of forecasting
and compares the error level of each
model. The lowest level of error will
become the most appropriate forecasting
model over all the other models.
Many opportunities for future research are
available. Determine the optimal value of
k that will produce the smallest residuals
and the best forecasting model based on
the criterion of forecasting accuracy.
Examine the robustness and sensitivity of
the proposed models when k changes. In
addition, construct the confidence limits
for short and long term forecasting and
compare the confidence ranges with other
acceptable models.
 |