Demand Forecasting Using Neural Network for Supply Chain Management

The demand forecasting technique which is modeled by artificial intelligence approaches using artificial neural networks. The consumer product causers the difficulty in forecasting the future demand and the accuracy of the forecast In performance of the artificial neural network an advantage in a constantly changing business environment and demand forecasting an organization in order to make right decisions regarding manufacturing and inventory management. The learning algorithm of the prediction is also imposed to better prediction of time series in future. The prediction performance of recurrent neural networks a simulated time series data and a practical sales data have been used. This is because of influence of several factors on demand function in retail trading system. It was also observed that as forecasting period becomes smaller, the ANN approach provides more accuracy in forecast.