Open AccessDemand Forecasting Using Fuzzy Methods Approach in Supply Chain Management
Author(s) -
Satyam Chouksey,
Amit Soni
Publication year - 2021
Publication title -
smart moves journal ijoscience
Language(s) - English
Resource type - Journals
ISSN - 2582-4600
DOI - 10.24113/ijoscience.v7i3.435
Subject(s) - purchasing , demand forecasting , variety (cybernetics) , supply chain , context (archaeology) , supply chain management , corporate governance , business , balance (ability) , industrial organization , operations research , marketing , economics , computer science , engineering , finance , artificial intelligence , paleontology , biology , medicine , physical medicine and rehabilitation
Modern businesses are confronted with a variety of challenges in a challenging climate. Companies that succeed are more flexible, and they immediately adopt new or revised concepts for corporate governance. As time goes on, they begin to use these techniques in their everyday work. For a company, forecasting is a vital part of its operations. This is regarded as the most basic input in the SCM department and the company. In the context of SCM functions, companies whose chronological development is close to that of the SCM evolution begin to pay attention to the forecast. This research reveals that the firm’s organization can use the barriers and few practical solutions for forecasting. However, retail organizations are continuously looking for a forecasting approach that will allow them to keep their purchasing and sales in balance.