The InnoFIT project is developing innovative forecasting tools for improved production planning Modern technologies within the Industry 4.0 environment (the forth industrial revolution) facilitate the data exchange in supply chains for faster and efficient decision making. Increased data storage and data processing requirements in the global market made it even more challenging for organizations to […]
The InnoFIT project aims at improving the quality of forecasts and, as a result, long-term production planning through the use of innovative forecasting tools.
The project goal should be achieved through the investigation of impacts of information uncertainty and forecast quality on hierarchical planning during the process of information exchange between supply chain stakeholders. Furthermore, with the use of information technologies, some improved forecasting tools or demand adjustment methods will be developed. The developed tools should improve the logistics potential, for instance, achieving the same delivery reliability with less inventory and less use of resources.