Implementation of Fuzzy Linear Programming Approach for More Accurate Demand Forecasting in a Make-to-Stock Company
Küçük Resim Yok
Tarih
2023
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
Demand forecasting is of crucial importance for make-to-stock companies because product demand is uncertain and it changes with time. Fuzzy linear programming (FLP) can be an optimum approach for such uncertain situations. In this study, the FLP model was used for more accurate demand forecasting in a make-to-stock company. Demand forecasting study was carried out according to the FLP method and linear programming (LP) method. Solutions of FLP and LP were compared in terms of imputed shortage cost, inventory carrying cost, and net profit. Results show that the applied FLP method is more advantageous than LP as it provides a 67% decrease in costs and a 15% increase in net profit.
Açıklama
Anahtar Kelimeler
Demand Forecasting, Fuzzy Linear Programming, Make-to-Stock
Kaynak
Academic Platform journal of engineering and smart systems (Online)
WoS Q Değeri
Scopus Q Değeri
Cilt
11
Sayı
1
