Demand Forecasting of Over-Promoted FMCG Products in a Manufacturing Company
Identifikátory výsledku
Kód výsledku v IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216275%3A25310%2F17%3A39910814" target="_blank" >RIV/00216275:25310/17:39910814 - isvavai.cz</a>
Výsledek na webu
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DOI - Digital Object Identifier
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Alternativní jazyky
Jazyk výsledku
angličtina
Název v původním jazyce
Demand Forecasting of Over-Promoted FMCG Products in a Manufacturing Company
Popis výsledku v původním jazyce
Overuse of trade sales promotion to keep fast-moving consumer goods (FMCG) in the range of retail stores results in a lot of negative impacts on all members of the supply chain network. One of the consequences is also an extreme increase in demand variability for FMCG manufacturers. However, such demand becomes unpredictable if only common forecasting methods are applied. This paper aims to find ways of forecasting the demand that is affected by frequent implementation of promotional events. Based on the case study conducted with a large Czech manufacturer of FMCG products, the paper first discusses the possibilities and barriers of the current theoretical approaches to demand forecasting of promoted products, which subsequently results in a proposal of a statistical forecasting method for over-promoted products. The proposed approach to demand forecasting combines a multiple linear regression (MLR) model with an autoregressive integrated moving average (ARIMA) model. By its application in the company involved in the research, they were able to decrease the simple statistical forecast error by 24%.
Název v anglickém jazyce
Demand Forecasting of Over-Promoted FMCG Products in a Manufacturing Company
Popis výsledku anglicky
Overuse of trade sales promotion to keep fast-moving consumer goods (FMCG) in the range of retail stores results in a lot of negative impacts on all members of the supply chain network. One of the consequences is also an extreme increase in demand variability for FMCG manufacturers. However, such demand becomes unpredictable if only common forecasting methods are applied. This paper aims to find ways of forecasting the demand that is affected by frequent implementation of promotional events. Based on the case study conducted with a large Czech manufacturer of FMCG products, the paper first discusses the possibilities and barriers of the current theoretical approaches to demand forecasting of promoted products, which subsequently results in a proposal of a statistical forecasting method for over-promoted products. The proposed approach to demand forecasting combines a multiple linear regression (MLR) model with an autoregressive integrated moving average (ARIMA) model. By its application in the company involved in the research, they were able to decrease the simple statistical forecast error by 24%.
Klasifikace
Druh
D - Stať ve sborníku
CEP obor
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OECD FORD obor
50200 - Economics and Business
Návaznosti výsledku
Projekt
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Návaznosti
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Ostatní
Rok uplatnění
2017
Kód důvěrnosti údajů
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Údaje specifické pro druh výsledku
Název statě ve sborníku
CLC 2017 Carpathian logistics congres : proceedings
ISBN
978-80-87294-80-2
ISSN
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e-ISSN
neuvedeno
Počet stran výsledku
7
Strana od-do
40-46
Název nakladatele
TANGER, spol. s r.o.
Místo vydání
Ostrava
Místo konání akce
Liptovský Ján
Datum konání akce
28. 6. 2017
Typ akce podle státní příslušnosti
EUR - Evropská akce
Kód UT WoS článku
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