Forecasting of daily sales of hypermarkets using a modified Holt-Winters Procedure

• Type: Article in International Conference Proceedings Book
• Date: 1993

Authors

Maria Henriqueta Nóvoa (Author) FEUP; Rui Guimarães (Author) FEUP

Conference proceedings International

Title: 13º Congresso Mundial de Investigação Operacional

13º Congresso Mundial de Investigação Operacional

Lisboa

Other information

Abstract (EN): The paper describes the procedure developed to derive short-term forecasts of the daily sales of hypermarkets. The underlying model includes 6 smoothing parameters, accounting for level, trend, 3 seasonal components (weekly, monthly and annual) and holidays. A sequential least square procedure was devised to specify the values of these parameters. The detection of significant autocorrelations of the one-step ahead forecast errors led to the posterior modification of the original forecasts by adding to them a proportion of the original one-week lagged errors.

Language: Portuguese

Type (Professor's evaluation): Scientific