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A two staged forecasting scheme considering the constraints of sales forecasting in the fashion industry

By R. Maleku Shrestha, G. Craparotta, S. Thomassey and R. Moore

Abstract

Sales forecasting is one of the most cost effective methods to enable companies to make informed business decisions. In this paper, a two stage forecasting system is studied. A long-term forecasting system is combined with a short-term forecasting model. The proposed scheme first calculates long-term forecasts based on clustering and classification models while adjusting the effects of discounts and seasonality. These forecasts are then used as a basis for a second, short-term forecasting phase.

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