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- Title
FORECASTING DEMAND WITH POINT OF SALES DATA-A CASE STUDY OF FASHION PRODUCTS.
- Authors
Sichel, Bill
- Abstract
The article presents a case study regarding the use of the Point of Sales (POS) data in forecasting the demand of the fashion products. The retail industry are using the scheme to improve the forecasting accuracy of their products as the POS data represents the most existing indicator of the actual consumer demand, as well as the changes in the consumers demand pattern. One of the most leading company in design, production and distribution of the costume jewelry is Monet Group Inc. which also had several end customers in the most large retailers. The forecasting scheme is composed of promotionally, seasonality, events, outliers and baseline.
- Subjects
DISPLAY of merchandise; BUSINESS forecasting; SUPPLY &; demand; FASHION design; COMMERCIAL products; RETAIL industry; CONSUMERS; MONET Group Inc.; PRODUCT management
- Publication
Journal of Business Forecasting, 2008, Vol 27, Issue 4, p15
- ISSN
1930-126X
- Publication type
Article