| dc.description.abstract | The paper research about the forecasting methodologies used to compute an aggregate production plan. The ARIMA model looks for the relationship between the data and determine the appropriate model best fit for the data set in the form ARIMA(p,d,q). In comparison to ARIMA, another forecasting technique, SES, is applied to figure out which technique is best appropriate for the given demand. After that, the forecasted data of both forecasting methods are inputted to the aggregate production plan model which the objective is to minimize both the inventory and the backorder costs. This paper suggest decision makers and businesses to choose the appropriate forecasting model for production in order to avoid unsatisfying the customer demand.
Keywords: ARIMA, SES, Aggregate Production Planning, Forecasting, Decision Making | en_US |
