1. UNDERSTANDING SEASONALITY AND ITS IMPACT ON DEMAND FORECASTING: THE CASE OF INDIAN PAINT INDUSTRY.
- Author
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BURRA, RAHUL GANDHI and MEGHE, BHARAT
- Subjects
BUSINESS forecasting ,STRATEGIC planning ,DECISION making ,PAINT industry ,INDUSTRIAL management - Abstract
Demand forecasting is a preliminary and mandatory exercise for a company to strategically accomplish its planning and execution route map at all levels and business functions. Forecasting becomes easier if the industry and the organization are operational for a considerable amount of time as the historical data can be consumed to arrive at informed alternatives for decision making. One of these techniques that help us in making better forecast is time series with seasonality. Traditionally Indian paint industry has been driven by seasonality, which has been established by wide discussions and research. Off late, this trend is experiencing a paradigm shift which has been identified by industry bigwigs but the empirical evidence has not yet been established in the available literature both at industry and organizational level. So, the objective of this paper is to understand the seasonality pattern and latest demand trends in Indian paint industry, not only at industry level but also for each organized player in particular, thereby paving the way for data driven demand forecasting & management and aggregate planning. The time series with seasonality technique is being applied to understand the demand patterns in the Indian paint industry. [ABSTRACT FROM AUTHOR]
- Published
- 2016