A Combining Forecasting Modeling and Its Application

Abstract : The supply chain coordination has abstracted more and more attention from industries and academics. This paper studies a Bayesian combination forecasting model to integrate multiple forecasting resources and coordinate forecasting process among partners in retail supply chain. The simulation results based on the retail sales data show the effectiveness of this Bayesian combination forecasting model to coordinate the collaborative forecasting process. This Bayesian combination forecasting model can improve demand forecasting accuracy of supply chain.