Article ID: | iaor1989411 |
Country: | United States |
Volume: | 35 |
Issue: | 9 |
Start Page Number: | 1056 |
End Page Number: | 1065 |
Publication Date: | Sep 1989 |
Journal: | Management Science |
Authors: | Fildes Robert |
Keywords: | time series & forecasting methods |
A major use of univariate forecasting methods lies in production control where there is a large number of series to be forecast. The appropriate choice of forecasting method has the potential for major cost savings through improved accuracy. Where a new method is to be compared to one already established two distinct approaches to selecting between the two can be considered: