Industrial Forecasting Support Systems and Technologies in Practice: A Review

Global Journal of Researches in Engineering, Industrial Engineering, Volume 13 Issue 4 Version 1.0 Year 2013

18 Pages Posted: 28 Apr 2016

See all articles by Rakesh Kumar

Rakesh Kumar

Punjabi University Regional Centre

D. G. Mahto

Green Hills Engineering College

Date Written: 2013

Abstract

With the present changing and uncertain economic and marketing scenario the available resources must be utilised by the most optimum way, so that the predetermined goal is achieved. There are number of tools and techniques that are used directly and as support system in the business for success. Forecasting is also a powerful tool and technique which is used as support system to the industrial environment so that future of the business can be predicted accurately. It provides the basis to plan the future requirements for men, machine and materials, time, money etc. so that the wastage will be least.This paper presents the reviews of different works in the area of industrial forecasting support systems and tries to find out latest developments and technologies available in industries and show how they are beneficial to achieve an accurate forecasting.

Keywords: forecasting, support systems, techniques

Suggested Citation

Kumar, Rakesh and Mahto, Dalgobind, Industrial Forecasting Support Systems and Technologies in Practice: A Review (2013). Global Journal of Researches in Engineering, Industrial Engineering, Volume 13 Issue 4 Version 1.0 Year 2013, Available at SSRN: https://ssrn.com/abstract=2770403

Rakesh Kumar

Punjabi University Regional Centre ( email )

Sector 61
Ajitgarh, Punjab 160062
India

Dalgobind Mahto (Contact Author)

Green Hills Engineering College ( email )

SP-43, RIICO Industrial Area Kukas
Jaipur, Rajasthan 302028
India
8058799995 (Phone)
8058799995 (Fax)

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