The Contingent Value of Data-Sharing for Forecast Accuracy

Lauri Saarinen; Petra Huttunen; Obaid Rehman

The Contingent Value of Data-Sharing for Forecast Accuracy

Lauri Saarinen, Petra Huttunen, Obaid Rehman

Tuotantotalouden laitos

Tutkimustuotos: Artikkeli kirjassa/konferenssijulkaisussa › Konferenssiesitys › Scientific › vertaisarvioitu

Abstrakti

The indirect suppliers of retail end in supply chains typically lack access to the retail and customer end data, which is considered one of the hindrances to accurate demand planning. In this research study, we explore the efficacy of integrating retail data into upstream demand forecasting. Our approach involves augmenting existing forecasting methods with retail data and conducting a comparative analysis between forecasts generated with and without retail data integration. Our results indicate that retail data integration generally does not add value to the accuracy of demand forecasting, except for promotional events and assortment changes.

Alkuperäiskieli	Englanti
Sivumäärä	10
Tila	Julkaistu - 1 heinäk. 2024
OKM-julkaisutyyppi	Ei sovellu
Tapahtuma	International Annual European Operations Management Association Conference - Belgium, Leuven, Belgia Kesto: 3 heinäk. 2023 → 5 heinäk. 2023 Konferenssinumero: 30

Conference

Conference	International Annual European Operations Management Association Conference
Lyhennettä	EurOMA
Maa/Alue	Belgia
Kaupunki	Leuven
Ajanjakso	03/07/2023 → 05/07/2023

Siteeraa tätä

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title = "The Contingent Value of Data-Sharing for Forecast Accuracy",

abstract = "The indirect suppliers of retail end in supply chains typically lack access to the retail and customer end data, which is considered one of the hindrances to accurate demand planning. In this research study, we explore the efficacy of integrating retail data into upstream demand forecasting. Our approach involves augmenting existing forecasting methods with retail data and conducting a comparative analysis between forecasts generated with and without retail data integration. Our results indicate that retail data integration generally does not add value to the accuracy of demand forecasting, except for promotional events and assortment changes.",

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T1 - The Contingent Value of Data-Sharing for Forecast Accuracy

AU - Saarinen, Lauri

AU - Huttunen, Petra

AU - Rehman, Obaid

N1 - Conference code: 30

PY - 2024/7/1

Y1 - 2024/7/1

N2 - The indirect suppliers of retail end in supply chains typically lack access to the retail and customer end data, which is considered one of the hindrances to accurate demand planning. In this research study, we explore the efficacy of integrating retail data into upstream demand forecasting. Our approach involves augmenting existing forecasting methods with retail data and conducting a comparative analysis between forecasts generated with and without retail data integration. Our results indicate that retail data integration generally does not add value to the accuracy of demand forecasting, except for promotional events and assortment changes.

AB - The indirect suppliers of retail end in supply chains typically lack access to the retail and customer end data, which is considered one of the hindrances to accurate demand planning. In this research study, we explore the efficacy of integrating retail data into upstream demand forecasting. Our approach involves augmenting existing forecasting methods with retail data and conducting a comparative analysis between forecasts generated with and without retail data integration. Our results indicate that retail data integration generally does not add value to the accuracy of demand forecasting, except for promotional events and assortment changes.

KW - Demand Forecasting, Prophet Forecasting Model, Consumer Packaged Goods

KW - Prophet Forecasting Model

KW - Consumer Packaged Goods

M3 - Paper

T2 - International Annual European Operations Management Association Conference

Y2 - 3 July 2023 through 5 July 2023

ER -

The Contingent Value of Data-Sharing for Forecast Accuracy

Abstrakti

Conference

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