Forecasting for the LCD monitor market

Abstract

The TFT-LCD (thin-film transistor-liquid crystal display) industry is one of the key global industries with products that have high clock speed. In this research, the LCD monitor market is considered for an empirical study on hierarchical forecasting (HF). The proposed HF methodology consists of five steps. First, the three hierarchical levels of the LCD monitor market are identified. Second, several exogenously driven factors that significantly affect the demand for LCD monitors are identified at each level of product hierarchy. Third, the three forecasting techniques-regression analysis, transfer function, and simultaneous equations model-are combined to forecast future demand at each hierarchical level. Fourth, various forecasting approaches and disaggregating proportion methods are adopted to obtain consistent demand forecasts at each hierarchical level. Finally, the forecast errors with different forecasting approaches are assessed in order to determine the best forecasting level and the best forecasting approach. The findings show that the best forecast results can be obtained by using the middle-out forecasting approach. These results could guide LCD manufacturers and brand owners on ways to forecast future market demands. Copyright 2008 John Wiley & Sons, Ltd.

Demand Forecasting Models for Medicines through Wireless Sensor Networks Data and Topic Trend Analysis

“…Smith and Mentzer [18] study the relation of forecasting precision and logistics outcomes. Most research about demand forecasting uses exponential smoothing, time-series models, growth curve models, and trend analysis but does not use exogenous variables from social media, especially in the medicine industry [15].…”

“…There are many studies about demand forecasting in various domains. For example, Lo et al [15] suggest a demand forecasting method for the liquid crystal display monitor market and Fildes et al [16] positively analyze the modification of forecasting models. Chen et al [17] suggest a demand forecasting model for fresh foods.…”

Modeling the Material Allocation System for TFT-LCD Module Factories Based on Make-to-Stock Production

“…Lin et al (2004) constructed a hierarchy planning model, which includes order management, midterm sales, and operations planning for the TFT-LCD production chain, and discussed the allocation of critical resources. Lo et al (2008) provided a three-level hierarchical forecasting (HF) method that consists of five steps for the LCD monitor market to help LCD manufactures and brand owners to forecast the future market demand accurately. Wang et al (2007aWang et al ( , 2007b proposed a mixed integer linear programming model that maximizes the net profit under resource limitations, order fulfillment, and inventory costs for the TFT-LCD industry.…”