Management of supply chain: an alternative modelling technique for forecasting
The tools of forecasting (software) in general business use are still primitive in view of the strides made by research. Hence, promoting advances in forecasting to aid predictive analytics is deemed a worthwhile endeavour and is the purpose of this paper. Such tools may further reduce uncertainty...
| Main Authors: | , , , |
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| Other Authors: | |
| Format: | Article |
| Language: | English |
| Published: |
Journal of the Operational Research Society
2008
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| Subjects: | |
| Online Access: | http://hdl.handle.net/1721.1/41906 |
| Summary: | The tools of forecasting (software) in general business use are still primitive in view of the strides made by research. Hence, promoting advances in forecasting to aid
predictive analytics is deemed a worthwhile endeavour and is the purpose of this paper. Such tools may further reduce uncertainty and volatility characteristic of global trade. The relationship of various business parameters that may change and impact decisions are so abundant that any credible attempt to drive meaningful associations are in demand by global businesses. This paper proposes some modifications to adapt an already advanced forecasting technique (GARCH) with the aim to develop it as a decision support tool applicable to a wide variety of operations including supply chain management. |
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