University of Twente Student Theses
The perfect forecast for cycling
Beekman, Y.A. (2021) The perfect forecast for cycling.
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| Abstract: | This research aims to find the best way to improve the process of forecasting at Company X, which is a company specialized in the development of cycling accessories. Demand patterns at the company are highly dynamic, contain strong seasonality and show a clear trend. Moreover, during the previous years, the demand has risen since Company X has expanded its business to multiple other countries and numerous new retailers come to do business with Company X. These are some of the aspects that make forecasting at Company X a difficult task. With a lead time of four months, which became six months during the research, a more accurate forecast is desired in the future to minimize costs and maximize delivery reliability. In this research, multiple time-series models have been tested and evaluated based on the demand data of 2020 as well as 2019, since 2020 showed a remarkable demand pattern due to COVID-19. Also the innovations of using customer forecasts and pre-ordered products have been taken into consideration. With the chosen solution and the innovations, Company X could improve their process of forecasting. |
| Item Type: | Essay (Bachelor) |
| Faculty: | BMS: Behavioural, Management and Social Sciences |
| Subject: | 85 business administration, organizational science |
| Programme: | Industrial Engineering and Management BSc (56994) |
| Link to this item: | https://purl.utwente.nl/essays/87816 |
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