Application of predictive analytics to sales forecasting in fashion business

  • Like many others, fashion companies have to deal with a global and very competitive environment. Thus companies rely on accurate sales forecasts - as key success factor of an efficient supply chain management. However, forecasters have to take into account some specificities of the fashion industry. To respond to these constraints, a variety of different forecasting methods exists, including new, computer-based predictive analytics. After the evaluation of different methods, their application to the fashion industry is investigated through semi structured expert interviews. Despite several benefits predictive analytics is not yet frequently used in practice. This research does not only reflect an industry profile, but also gives important insights about the future potential and obstacles of predictive analytics.

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Metadaten
Name:Erhard, Julia; Bug, Peter
URN:urn:nbn:de:bsz:rt2-opus4-13548
Publisher:Reutlingen University
Place of publication:Reutlingen
Document Type:Book
Language:English
Year of Publication:2016
Tag:analytics; fashion; forecasting; predictive; sales
Pagenumber:27
First Page:1
Last Page:27
Dewey Decimal Classification:330 Wirtschaft
380 Handel, Kommunikation, Verkehr
Open Access:Ja
Licence (German):License Logo  Creative Commons - Namensnennung, nicht kommerziell, keine Bearbeitung