Creator of Knowledge
Information Resources Management Association
Advancing the Concepts & Practices of Information Resources Management in Modern Organizations

Neural Networks for Retail Sales Forecasting

Neural Networks for Retail Sales Forecasting
View Sample PDF
Author(s): G. Peter Zhang (Georgia State University, USA)
Copyright: 2005
Pages: 5
Source title: Encyclopedia of Information Science and Technology, First Edition
Source Author(s)/Editor(s): Mehdi Khosrow-Pour, D.B.A. (Information Resources Management Association, USA)
DOI: 10.4018/978-1-59140-553-5.ch370


View Neural Networks for Retail Sales Forecasting on the publisher's website for pricing and purchasing information.


Forecasting of the future demand is central to the planning and operation of retail business at both macro and micro levels. At the organizational level, forecasts of sales are needed as the essential inputs to many decision activities in various functional areas such as marketing, sales, production/purchasing, as well as finance and accounting (Mentzer & Bienstock, 1998). Sales forecasts also provide basis for regional and national distribution and replenishment plans. The importance of accurate sales forecasts to efficient inventory management has long been recognized. In addition, accurate forecasts of retail sales can help improve retail supply chain operation, especially for larger retailers who have a significant market share. For profitable retail operations, accurate demand forecasting is crucial in organizing and planning purchasing, production, transportation, labor force, as well as after sales services.

Related Content

Adeyinka Tella, Oluwakemi Titilola Olaniyi, Aderinola Ololade Dunmade. © 2021. 24 pages.
Md. Maidul Islam. © 2021. 17 pages.
Peterson Dewah. © 2021. 23 pages.
Lungile Precious Luthuli, Thobekile K. Buthelezi. © 2021. 14 pages.
Delight Promise Udochukwu, Chidimma Oraekwe. © 2021. 13 pages.
Julie Moloi. © 2021. 18 pages.
Mandisa Msomi, Lungile Preciouse Luthuli, Trywell Kalusopa. © 2021. 17 pages.
Body Bottom