Journal of Industrial Engineering

In today's competitive environment, predicting sales for upcoming periods at right quantity is very crucial for ensuring product availability as well as improving customer satisfaction.This paper develops a model to identify the most appropriate method for prediction based on the least values of forecasting errors.Necessary sales data of jute yarn were collected from a jute product manufacturer industry in Bangladesh, namely, Akij Jute Mills, Akij Group Ltd., in Noapara, Jessore.Time series plot of demand data indicates that demand fluctuates over the period of time.In this paper, eight different forecasting techniques including simple moving average, single exponential smoothing, trend analysis, Winters…