Demand forecasting in chemical industry

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216275%3A25310%2F18%3A39913136" target="_blank" >RIV/00216275:25310/18:39913136 - isvavai.cz</a>
Result on the web
<a href="http://dx.doi.org/10.15199/62.2018.8.5" target="_blank" >http://dx.doi.org/10.15199/62.2018.8.5</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.15199/62.2018.8.5" target="_blank" >10.15199/62.2018.8.5</a>

Result language
angličtina
Original language name
Demand forecasting in chemical industry
Original language description
Demand forecasting is one of the key business processes, but its effective management in the chemical industry has not been sufficiently resolved. That is why the given area became the subject of primary quantitative research in Czech chemical companies. The aim was to find out what factors influencing demand are taken into account, what sources of information are used as inputs and what methods are used in forecasting. It was found that businesses most often consider the product price, its modification, and the seasonality of sales. Therefore, they use historical sales as the main input data, but they do not process these data with an adequate statistical forecasting method. The predominant forecasting method is Sales Force Composite. Improvements in demand forecasting in chemical industry enterprises should therefore focus on wider use of sophisticated statistical methods to make forecasts more accurate.
Czech name
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Czech description
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Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50204 - Business and management

Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2018
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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