- Akademik Platform Mühendislik ve Fen Bilimleri Dergisi
- Vol: 11 Issue: 1
- Implementation of Fuzzy Linear Programming Approach for More Accurate Demand Forecasting in a Make-t...
Implementation of Fuzzy Linear Programming Approach for More Accurate Demand Forecasting in a Make-to-Stock Company
Authors : Çağatay Teke
Pages : 35-40
Doi:10.21541/apjess.1205309
View : 36 | Download : 21
Publication Date : 2023-01-30
Article Type : Research
Abstract :Demand forecasting is of crucial importance for make-to-stock companies because product demand is uncertain and it changes with time. Fuzzy linear programming (FLP) can be an optimum approach for such uncertain situations. In this study, the FLP model was used for more accurate demand forecasting in a make-to-stock company. Demand forecasting study was carried out according to the FLP method and linear programming (LP) method. Solutions of FLP and LP were compared in terms of imputed shortage cost, inventory carrying cost, and net profit. Results show that the applied FLP method is more advantageous than LP as it provides a 67% decrease in costs and a 15% increase in net profit.Keywords : Demand Forecasting, Fuzzy Linear Programming, Make-to-Stock