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Development of an adaptive forecasting system : A case study of a PC manufacturer in South Korea

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  • Development of an adaptive forecasting system
  • Jung, Chihyun; LIm, Dae-Eun
  • MDPI


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Title Development of an adaptive forecasting system
Similar Titles
Sub Title

A case study of a PC manufacturer in South Korea

Material Type Articles
Author(English)

Jung, Chihyun; LIm, Dae-Eun

Publisher

[Basel]:MDPI

Date 2016-03
Journal Title; Vol./Issue Sustainability:vol. 8(no. 3)
Pages 12
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Economic Administration
Industry and Technology < Others
Holding MDPI

Abstract

We present a case study of the development of an adaptive forecasting system for a leading personal computer (PC) manufacturer in South Korea. It is widely accepted that demand forecasting for products with short product life cycles (PLCs) is difficult, and the PLC of a PC is generally very short. The firm has various types of products, and the volatile demand patterns differ by product. Moreover, we found that different departments have different requirements when it comes to the accuracy, point-of-time and range of the forecasts. We divide the demand forecasting process into three stages depending on the requirements and purposes. The systematic forecasting process is then introduced to improve the accuracy of demand forecasting and to meet the department-specific requirements. Moreover, a newly devised short-term forecasting method is presented, which utilizes the long-term forecasting results of the preceding stages. (The rest omitted)