Mechanism for a New Demand Forecasting Paradigm 'Individual Demand Forecasting'
Zhongjun Tang
Abstract
Zhongjun Tang
Abstract
Traditional opinions suggested that it is impossible to forecast individual demand. A mechanism for individual demand forecasting to improve forecasting accuracy is elicited and described based on tenets, tactics, and tools of individual demand forecasting, The mechanism consists of three sub-mechanisms (1) sub-mechanism via extending information base, (2) sub-mechanism via information processing, and (3) sub-mechanism via providing forecasts and other information to customers.
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Traditional opinions suggested that it is impossible to forecast individual demand. A mechanism for individual demand forecasting to improve forecasting accuracy is elicited and described based on tenets, tactics, and tools of individual demand forecasting, The mechanism consists of three sub-mechanisms (1) sub-mechanism via extending information base, (2) sub-mechanism via information processing, and (3) sub-mechanism via providing forecasts and other information to customers.
Key concepts: Demand forecasting, Mechanism (biology), Computer science, On demand, Demand characteristics, Operations research, Engineering, Psychology