Open Access Open Access  Restricted Access Subscription Access

Store Sales Forecasting using Artificial Neural Network


Affiliations
1 RCC Institute of Information Technology, Bahelghata, Kolkata – 700015, West Bengal, India
 

Forecasting is the use of historic data to predict the future trends. Forecasting provides an important benchmark for organizations which have a longterm perspective of operations. In this paper Time series analysis is used to predict the future sales. Also various industrial areas where this technique can be used are explored. Application of the proposed forecasting technique is discussed in various industries.

Keywords

Artificial Neural Network, Forecasting, Neural Network.
User
Notifications
Font Size

  • Nenni ME, Giustiniano L, Pirolo L. Demand Forecasting in the Fashion Industry: A Review. 2012.

  • Matias AJ. Budgeting and Forecasting - The Quick Reference Handbook. Publisher: Matias Interactive Learning; 1st Edition. 2012 Feb 27. ISBN: B007FPK904.

  • Gilliland M. The Business Forecasting Deal: Exposing Myths, Eliminating Bad Practices, Providing Practical Solutions, Publisher: John Wiley & Sons. ISBN-10: 0470574437, ISBN-13: 978-0470574430. 2010 Jun 25.

  • Krueger RA. Business Forecasting: A Practical, Comprehensive Resource for Managers and Practitioners. Publisher: Book Surge Publishing. ISBN-10: 1419677799, ISBN-13: 978-1419677793. 2008 Dec 2.

  • Dougherty J. Sales and Operations Planning - Best Practices, Publisher: Trafford Publishing. ISBN-10: 1412082102, ISBN-13: 978-1412082105. 2006 May 2.

  • Kabacoff R. R in Action. Publisher: Manning Publications; 1 edition. ISBN-10: 1935182390, ISBN-13: 978-1935182399. 2011 Aug 27.

  • Sales Forecasting & Market Potential: Best Practices in India by Abhishek Gupta, Publication Date: 2013 Sep 21. Available from: http://management. cloud-journals.com/index.php/IJAMR/article/view/Mgmt-25

  • Fildes R, Beard C. Forecasting systems for production and inventory control. International Journal of Operations and Production Management. 1992; 12(5):4–27.

  • Makridakis S. Forecasting: its role and value in planning and strategy. International Journal of Forecasting. 1996; 12:513–37.

  • Plossl G. Getting the most from forecasts. Production and Inventory Management Journal, First Quarter. 1973; 1–15.

  • Wacker JG, Sprague L. The impact of institutional factors on forecast accuracy: a manufacturing executive perspective. International Journal of Production Research. 1995; 33(11):2945–58.

  • Wacker JG. A definition of theory: implications for different theory‐building research methods in operations management. Journal of Operations Management. 1998; 16:361–85.

  • Available from: http://www.entrepreneur.com/article/204878

  • Available from: http://www.forbes.com/sites/scottedinger/2013/06/03/ four-principles-for-great-sales-forecasts/

  • Cleger-Tamayo S, Fernandez-Luna JM, Huete JF. On the use of Weighted Mean Absolute Error in Recommender Systems. 2012.

  • Frank C, Garg A, Raheja A. Forecasting women’s apparel sales using mathematical modeling. 2003.

  • Bhattacharjee AK, Patra S, Barman RD, Bera B, Mukherjee S, Ghosh M. Store Sales Forecasting: A Case Study. IV International Conference on Dynamism and Contemporary Practices of Business Management. 2015 Dec 05.


Abstract Views: 898

PDF Views: 403




  • Store Sales Forecasting using Artificial Neural Network

Abstract Views: 898  |  PDF Views: 403

Authors

Arup Kumar Bhattacharjee
RCC Institute of Information Technology, Bahelghata, Kolkata – 700015, West Bengal, India
Manas Ghosh
RCC Institute of Information Technology, Bahelghata, Kolkata – 700015, West Bengal, India
Soumen Mukherjee
RCC Institute of Information Technology, Bahelghata, Kolkata – 700015, West Bengal, India
Sudipta Patra
RCC Institute of Information Technology, Bahelghata, Kolkata – 700015, West Bengal, India

Abstract


Forecasting is the use of historic data to predict the future trends. Forecasting provides an important benchmark for organizations which have a longterm perspective of operations. In this paper Time series analysis is used to predict the future sales. Also various industrial areas where this technique can be used are explored. Application of the proposed forecasting technique is discussed in various industries.

Keywords


Artificial Neural Network, Forecasting, Neural Network.

References