Formation of mixed configuration cell based on product demand prediction

Easy, reliable method for mid-term demand forecasting based on the Bass model: A hybrid approach of NLS and OLS

“…Therefore, accurate demand forecasts for new products are among the top managerial priorities for business success (Mostard, Teunter, & de Koster, 2011). Accurate forecasts enable the just-in-time purchasing of components as well as timely allocations of adequate manufacturing capacity and resources, which in turn enables consumers to buy the available product or service (Carbonneau, Laframboise, & Vahidov, 2008;Huawei, Aimin, & Ruxin, 2012;Yan & Ma, 2011). Thus, producers can successfully minimize production costs and simultaneously maximize sales.…”