Time series analysis of demand forecasting in Hybrid Make-To- Stock/ Make-To-Order production systems: current trends and future directions

Moeen Sammak Jalali¹ S. M. T. Fatemi Ghomi²

1) PhD Candidate, Faculty of Industrial Engineering & Management Systems, Amirkabir University of Technology- Tehran Polytechnic, Tehran, Iran Email:
2) Full Professor, Faculty of Industrial Engineering & Management Systems, Amirkabir University of Technology- Tehran Polytechnic, Tehran, Iran Email:

Publication : 3rd International Conference On Research Science And Technology(3rstconf.com)
Abstract :
Facilitating production-planning strategies for demand responsiveness has been well recognized as an operative means of accomplishing production efficiency. To support efficient decision making in manufacturing environments, forecasting demands will act as an effective guide to help manufacturing establishments to make a flexible plan of possible production to response the future demands. On the other hand, new aged production systems are able to respond various product types. Hybrid production systems are among such production environments, which can respond both Make-To-Stock (MTS) and Make-To-Order (MTO) demands, as well as the hybrid ones. Having the mentioned characteristics taken into consideration, applying time series analysis methods for forecasting the demands of such systems, will rebound to a more flexible, cost saving manufacturing company. With this regards, this study embarks on investigating the recent works in the field of time series forecasting and its application in demand forecasting of production systems.
Keywords : Time Series Analysis; Forecasting; Hybrid MTS/MTO production systems; Demand forecasting.