Clustering is one of the known techniques in the field of data mining where data with similar properties is within the set of categories. K-means algorithm is one the simplest clustering algorithms which have disadvantages sensitive to initial values of the clusters and converging to the local optimum. In recent years, several algorithms are provided based on evolutionary algorithms for cluster...

Before 1960, little empirical research was done on forecasting methods. Since then, the literature has grown rapidly, especially in the area of judgmental forecasting. This research supports and adds to the forecasting guidelines proposed before 1960, such as the value of combining forecasts. New findings have led to significant gains in our ability to forecast and to help people to use forecas...

The significance of collaboration among supply chain members has been sufficiently stressed in the recent literature as a powerful tool for increasing accuracy of demand forecasts and for consequent cost reductions. Since it has been recognized that naı̈ve forecasting is no longer cost efficient, Supply Chain (SC) members have found it very important to exchange relevant information that will he...

Recent studies find that stocks with higher dispersion of analysts’ earnings forecasts have lower future returns. The phenomenon is popularly interpreted as evidence that stock prices reflect optimism in the presence of differences of opinions and short-sales constraints. This paper shows that there is also a negative relationship between forecast dispersion and a firm’s unexpected future earni...

We provide an empirical and theoretical assessment of the value of information sharing in a two-stage supply chain. The value of downstream sales information to the upstream firm stems from improving upstream order fulfillment forecast accuracy. Such improvement can lead to lower safety stock and better service. According to recent theoretical work, the value of information sharing is zero unde...

In the era of meager profit, production costs often become an important factor affecting SMEs’ operating conditions, and how to effectively reduce production costs has become an issue of in-depth consideration for the business owners. Especially, the food and beverage (F&B) industry cannot accurately predict the demand. It many cause demand forecast fall and excess or insufficient inventory pre...

Forecasting is an important analysis technique used in many application domains such as electricity management, sales and retail and, traffic predictions. The employed statistical models already provide very accurate predictions, but recent developments in these domains pose new requirements on the calculation speed of the forecast models. Especially, the often used multi-equation models tend t...