Thannawat Sombunna . Forecasting techniques for inventory planning : a case study of stationery and office equipment distributor companies in Thailand. Master's Degree(Information Technology Management). Mahidol University. Mahidol University Library and Knowledge Center. : Mahidol University, 2021.
Forecasting techniques for inventory planning : a case study of stationery and office equipment distributor companies in Thailand
Abstract:
Currently, Thailand faces an increasingly severe and persistent economic problem due to the epidemic situation of the Coronavirus Disease 2019 or COVID-19 that has caused the global economic crisis. The effects on Thailand's economy and business sectors in both manufacturing sector and the service sector become considerably adverse. Business competition has become more intense. This makes it challenging to predict inventory levels. There is an imbalance between supply and demand in business operations. Therefore, it is necessary to choose techniques, methods, strategies in business operations to be able to compete with business competitors. This research aims to study and compare forecasting techniques based on 36-month historical sales data of 5 stationery products : OPP tape, Delta cloth tape, fax paper, carbon paper, and plastic laminating card of the company in a case study. Two time series forecasting techniques were compared: simple regression analysis and a simple exponential smoothing method. The forecast accuracy was compared using the mean absolute error percentage (MAPE). The forecasting techniques results with the least mean absolute error (MAPE) are as follows: OPP Tape (11.82%), Delta Cloth Tape (7.46%), Fax Paper (6.76%), Carbon Paper (8.77%), Laminated Plastic (14.42%). From the prototype of the company forecasting technique tested with actual sales data, it was found that the modular forecasting technique was able to forecast the company's product sales in this case study according to the objectives. IMPLICATION OF THIS THEMATIC PAPER. Suggestions for further research With forecasting techniques for warehouse planning, case studies, finished goods companies, office supplies, Thailand may be able to apply this sales forecasting concept and method to other company systems, which will enable them to create management strategies of inventory more efficiently in the future. Other businesses can use simple regression analysis methods to forecast product sales or purchase raw supplies and inventory as a guideline for business planning. The import and distribution or production of the company in this case study also had other factors involved and taken into account, such as supplier order conditions, lead time, order, production, shipping, handling inventory, and the popularity of consumers or customers. In the studies on sales forecasting, qualitative studies may be performed to gain insights into problems and solutions contributing to various information to support business planning decisions, and may conduct quantitative research to study other factors that may affect sales leading to effective data analysis.