UGC Approved Journal no 63975(19)

ISSN: 2349-5162 | ESTD Year : 2014
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Published in:

Volume 10 Issue 3
March-2023
eISSN: 2349-5162

UGC and ISSN approved 7.95 impact factor UGC Approved Journal no 63975

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Published Paper ID:
JETIR2303592


Registration ID:
510588

Page Number

f697-f705

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Title

Systematic Literature Review on “Exploring the Various Forecasting Techniques”

Abstract

This paper provides an in-depth analysis of the various forecasting techniques utilized in the Fast-Moving Consumer Goods (FMCG) industry. The study begins with an introduction to the FMCG industry and its importance in the global market. The paper then highlights the significance of accurate demand forecasting and how it can impact supply chain management and overall business performance. The paper discusses four forecasting techniques used in the FMCG industry: Qualitative Forecasting, Time Series Forecasting, Causal Methods, and Forecast Aggregation. The Qualitative Forecasting method is based on expert opinions and judgments, while Time Series Forecasting is based on historical data patterns. Causal methods use variables such as price, promotions, and economic indicators to forecast demand, and Forecast Aggregation combines multiple forecasting methods to achieve more accurate predictions. The paper delves into each technique and describes its methodology in the FMCG industry. Additionally, the paper provides guidance on when to use which technique based on the type of data available and the forecasting horizon. The paper emphasizes the importance of selecting the appropriate forecasting technique in the FMCG industry to achieve accurate predictions and enhance business performance.

Key Words

FMCG industry, forecasting techniques, qualitative forecasting, time series forecasting, causal methods, forecast aggregation, supply chain management, demand forecasting.

Cite This Article

"Systematic Literature Review on “Exploring the Various Forecasting Techniques”", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.10, Issue 3, page no.f697-f705, March-2023, Available :http://www.jetir.org/papers/JETIR2303592.pdf

ISSN


2349-5162 | Impact Factor 7.95 Calculate by Google Scholar

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 7.95 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Cite This Article

"Systematic Literature Review on “Exploring the Various Forecasting Techniques”", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.10, Issue 3, page no. ppf697-f705, March-2023, Available at : http://www.jetir.org/papers/JETIR2303592.pdf

Publication Details

Published Paper ID: JETIR2303592
Registration ID: 510588
Published In: Volume 10 | Issue 3 | Year March-2023
DOI (Digital Object Identifier): http://doi.one/10.1729/Journal.33582
Page No: f697-f705
Country: Mumbai, Maharashtra, India .
Area: Engineering
ISSN Number: 2349-5162
Publisher: IJ Publication


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