Profile-based product demand forecasting
First Claim
1. A product demand forecasting system, comprisinga profile extractor that generates a demand profile of a new product yet to be introduced based on demand profiles of similar products already introduced, wherein the profile extractor normalizes and averages the demand profiles of the similar products to obtain the demand profile of the new product;
- a life-cycle demand predictor that generates a total life-cycle demand of the new product based on historical demand data of the similar products;
a forecast creator coupled to the profile extractor and the demand predictor to generate a life-cycle demand forecast for the new product based on the demand profile and total life-cycle demand of the new product; and
a future demand extrapolation module coupled to the forecast creator to extrapolate the total life-cycle demand of the new product by calculating an average demand per time period of each of the similar products, associating each average demand per time period with a date that represents a midpoint of the life-cycle of each similar product, and calculating an estimate of the average demand per time period at the date of the midpoint of the life-cycle of the new product.
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Abstract
A product demand forecasting system includes a profile extractor that generates a demand profile of a new product yet to be introduced based on demand profiles of similar products already introduced. The profile extractor normalizes and averages the demand profiles of the similar products to obtain the demand profile of the new product. The forecasting system also includes a life-cycle demand predictor that generates a total life-cycle demand of the new product based on historical demand data of the similar products. A forecast creator is then coupled to the profile extractor and the demand predictor to generate a life-cycle demand forecast for the new product based on the demand profile and total life-cycle demand of the new product. A method of providing a life-cycle product demand forecast for a new product yet to be introduced is also described.
119 Citations
11 Claims
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1. A product demand forecasting system, comprising
a profile extractor that generates a demand profile of a new product yet to be introduced based on demand profiles of similar products already introduced, wherein the profile extractor normalizes and averages the demand profiles of the similar products to obtain the demand profile of the new product; -
a life-cycle demand predictor that generates a total life-cycle demand of the new product based on historical demand data of the similar products; a forecast creator coupled to the profile extractor and the demand predictor to generate a life-cycle demand forecast for the new product based on the demand profile and total life-cycle demand of the new product; and a future demand extrapolation module coupled to the forecast creator to extrapolate the total life-cycle demand of the new product by calculating an average demand per time period of each of the similar products, associating each average demand per time period with a date that represents a midpoint of the life-cycle of each similar product, and calculating an estimate of the average demand per time period at the date of the midpoint of the life-cycle of the new product. - View Dependent Claims (2, 3, 4, 5, 6, 7)
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8. A method of providing a life-cycle product demand forecast for a new product yet to be introduced, comprising
collecting historical demand data of similar products of the new product, wherein the similar products have already been introduced; -
generating demand profiles of the similar products based on the historical data of the similar products; normalizing and averaging the demand profiles of the similar products to obtain a demand profile of the new product; generating a total life-cycle demand of the new product based on the historical demand data of the similar products; and generating the life-cycle product demand forecast for the new product based on the demand profile and total life-cycle demand of the new product; wherein generating the total life-cycle demand of the new product comprises calculating an average demand per time period of each of the similar products, associating each average demand per time period with a date that represents the midpoint of the life-cycle of each product, and using the average demand profile per time period at the midpoint of the life-cycle of each similar product to calculate an estimate of the average demand per time period at a midpoint of the life cycle of the new product. - View Dependent Claims (9, 10, 11)
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Specification