Artificial Nueral Network Approach to Industrial Demand Forecast

An efficient and accurate demand forecast becomes imperative for enhancement of commericial competitive advantage at al the stages of supply chain , escpically in the absence of collaborative supply chain management.Procurement decisions in the upstream supply chain to buy right quantity at right time for effective inventory management decisions depend on the accurate prediction of demand The objective of the paper is to propose a forecasting technique which is modelled by artificial intelligence approaches using artificial neural networks. The effectiveness of the proposed approach to the demand forecasting issue is demonstrated using real-world data from a company which is active in industrial valves manufacturing in Mumbai.