Application of GM (1,1) Model to Production Demand Forecast for Make-to-Stock Enterprise

Abstract:

This paper took the enterprises of make-to-stocking (MTS) as the research object. It introduced the features of MTS enterprises and different forecasting methods. It analyzed the importance of the forecast for Production Planning. With the gray forecasting methods, an appropriate model was established. The model was solved by using the Matlab software. Finally, the results proved the superiority of the gray prediction method by comparing the gray prediction with traditional forecasting methods accuracy. It could be applied in the actual production.

• Periodical: Advanced Materials Research (Volume 823)
• Pages: 602-605
• DOI: https://doi.org/10.4028/www.scientific.net/AMR.823.602
• Online since: October 2013
• Authors: Meng Xiong Zeng, Wen Ouyang, Zhu Qing Zhen
• Keywords: Demand Forecast, GM(1,1), Gray Model, Stocking Production

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