Enhancing Supply Chain Decision-making Through Forecast Fit: a Qualitative and Quantitative Analysis
Year: 2024
Type: article
Abstract: Objective: This study investigates the development and relationships between the goodness of fit of demand forecasts and supply chain decision-making within organisations. Theoretical Framework: Emphasising both qualitative and quantitative perspectives, we explore how accurate demand forecasting is integrated into organisational practices and how it influences evidence-based cultures. Method: The study employs an empirical case study from a Chilean public health organisation to demonstrate the practical application of advanced forecasting models. Results and Discussion: Our analysis reveals that precise forecasting methods significantly enhance inventory management, resource allocation, and cost efficiency, while fostering a data-driven decision-making culture. Research Implications: The findings underscore the importance of integrating accurate demand forecasting into organisational practices to improve supply chain performance and decision-making. Originality/Value: This study contributes to the literature by illustrating the effectiveness of advanced forecasting models in optimising lot-sizing decisions and achieving substantial cost savings.
Authors: Fernando Rojas, Joaquín Rojas, Peter Wanke
Language: English
Field: Decision Sciences
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4401764729