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Full-Text Articles in Operations Research, Systems Engineering and Industrial Engineering
Reducing Restaurant Inventory Costs Through Sales Forecasting, Tyler Mason, Chris Schoen, Trevor Gilbert, Jonathan Enriquez
Reducing Restaurant Inventory Costs Through Sales Forecasting, Tyler Mason, Chris Schoen, Trevor Gilbert, Jonathan Enriquez
Senior Design Project For Engineers
Family Restaurant is a local restaurant in the greater Atlanta area that serves a variety of dishes that include an assortment of 19 different proteins. Currently, Family Restaurant places protein orders based on business intuition, and tends to over-stock and sometimes under-stock. To minimize inventory costs by reducing over-stocking and preventing under-stocking of proteins, we applied Facebook Prophet (FB Prophet), ARIMA, and XG Boost machine learning models to predict protein demand and then fed these results into a Fixed Time Period inventory model to make an overall order suggestion based on the specified time period. We trained our models on …
Radiology Associates Medical Scan Forecasting, Everett M. Notaro, Mitchell Carpenter, Tyler Deis, Kimberly Williams
Radiology Associates Medical Scan Forecasting, Everett M. Notaro, Mitchell Carpenter, Tyler Deis, Kimberly Williams
Industrial and Manufacturing Engineering
After discontinuing their subscription with Shinyapps and relying on a manual forecasting process, Radiology Associates needs a new method to forecast the number and types of scans that will be executed at each site location. Radiology Associates utilizes Quinsite, which incorporates a live link to their database, as a host for all their Tableau dashboards. This project will create an accurate forecasting model utilizing complex forecasting methods to be hosted by Quinsite which is accessible by all management within Radiology Associates. To begin this process, an exponential smoothing model was created in Tableau to solidify dashboard and storyboard design. Additionally, …
Julian's Forecasting, Krista R. Bowdle
Julian's Forecasting, Krista R. Bowdle
Industrial and Manufacturing Engineering
This report focuses on developing a solution to a current problem faced at Julian’s Cafe and Bistro. The problem is that inaccurate order quantities are leading to inventory shortage and surplus which is causing unnecessary profit loss. After accessing and analyzing historical sales data, several forecasts were created using various approaches. After assessing each method and applying a mean absolute percentage error to see how accurate the forecasts were, the seasonal forecast with removing outliers initially was the selected method. After, this method was used to forecast the top three selling items at Julian’s and make demand predictions for busy …
Analyzing The Fundamental Aspects And Developing A Forecasting Model To Enhance The Student Admission And Enrollment System Of Msom Program, Sultanul Nahian Hasnat
Analyzing The Fundamental Aspects And Developing A Forecasting Model To Enhance The Student Admission And Enrollment System Of Msom Program, Sultanul Nahian Hasnat
Graduate Theses and Dissertations
A forecasting model, associated with predictive analysis, is an elementary requirement for academic leaders to plan course requirements. The M.S. in Operations Management (MSOM) program at the University of Arkansas desires to understand future student enrollment more accurately. The available literature shows that there is an absence of forecasting models based on quantitative, qualitative and predictive analysis. This study develops a combined forecasting model focusing on three admission stages. The research uses simple regression, Delphi analysis, Analysis of Variance (ANOVA), and classification tree system to develop the models. It predicts that 272, 173, and 136 new students will apply, matriculate …
Aircraft Demand Forecasting, Kayla M. Monahan
Aircraft Demand Forecasting, Kayla M. Monahan
Masters Theses
This thesis aims to forecast aircraft demand in the aerospace and defense industry, specifically aircraft orders and deliveries. Orders are often placed by airline companies with aircraft manufacturers, and then suddenly canceled due to changes in plans. Therefore, at some point during the three-year lead time, the number of orders placed and realized deliveries may be quite different. As a result, orders and deliveries are very difficult to predict and are influenced by many different factors. Among these factors are past trends, macroeconomic indicators as well as aircraft sales measures. These predictor variables were analyzed thoroughly, then used with time …
Applying Inventory Control Practices Within The Sisters Of Mercy Health Care Supply Chain, Server Apras
Applying Inventory Control Practices Within The Sisters Of Mercy Health Care Supply Chain, Server Apras
Graduate Theses and Dissertations
This research lays a foundation for the better understanding of the application and acceptance of more advanced inventory control practices within the health care supply chain. The demand characteristics and optimal control policies for pharmaceutical items within a multi-echelon provider network are examined within the framework of a case study. Demand forecasting algorithms were applied to forecast demand for inventory control procedures. A spreadsheet-based inventory planning tool was used to minimize the inventory holding and ordering costs subject to fill rate constraints. The costs of inventory control models are compared to the current ordering and inventory control strategies to document …