Demand forecasting: a case study in the food industry

Abstract

The use of forecasting methods is nowadays regarded as a business ally since it supports both the operational and the strategic decision-making processes. This paper is based on a research project aiming the development of demand forecasting models for a company (designated here by PR) that operates in the food business, more specifically in the delicatessen segment. In particular, we focused on demand forecasting models that can serve as a tool to support production planning and inventory management at the company. The analysis of the company’s operations led to the development of a new demand forecasting tool based on a combination of forecasts, which is now being used and tested by the company.