International Journal of Scientific and Research Publications

IJSRP, Volume 3, Issue 10, October 2013 Edition [ISSN 2250-3153]


Demand Forecasting For Economic Order Quantity in Inventory Management
      Aju Mathew, Prof.E.M.Somasekaran Nair, Asst Prof. Jenson Joseph E
Abstract: With today uncertain economy,companies are searching for alternative methods to keep ahead of their competitors.Forecasts of future demand will determine the quantities that should be purchased,produced and shipped.In this work α,two data mining methods,artificial neural network(ANN) and exponential smoothing(ES) were utilized to predict the demand of the fertilizer(Ammonium Sulphate).The training data used was the sales data of fertilizer of the previous 3 years.Demand forecasted by artificial neural network is more accurate and have less inventory costs than exponential smoothing method.

Reference this Research Paper (copy & paste below code):

Aju Mathew, Prof.E.M.Somasekaran Nair, Asst Prof. Jenson Joseph E (2018); Demand Forecasting For Economic Order Quantity in Inventory Management; Int J Sci Res Publ 3(10) (ISSN: 2250-3153). http://www.ijsrp.org/research-paper-1013.php?rp=P221840
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