Optimizing Forecasting Techniques for Procurement Savings : The Case of BuyIn GmbH
Malm, Milja (2016)
Tampereen ammattikorkeakoulu
2016
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2016121520650
https://urn.fi/URN:NBN:fi:amk-2016121520650
Tiivistelmä
The need for this thesis emerged from a specific working life problem, desire for more accurate and efficient forecasts at the case company. This thesis has been done specifically for the case company’s purposes, to optimize the procurement savings forecasting techniques.
The preliminary purpose of this bachelor’s thesis was to gather information on the forecasting techniques employed at the case company. The utmost aim of this thesis was to yield development proposals for improving the individual forecasting techniques and the overall forecasting process at the case company.
The researched materials were combined to form a framework and used to reflect and compare the techniques employed at the case company. These materials were gathered through extensive research and analysis of the available academic literature and studies. The case company knowledge was acquired through participant observation and analysis of internal documents. The forecasting techniques employed at the case company were reflected and analytically analyzed based on the researched and combined literature.
The findings of this thesis are presented as development proposals for the case company, to improve the individual forecasting techniques and the overall forecasting process. The findings suggested that implementation of the forecast value added method would improve the forecast performance.
The findings indicate that there is no one optimal way to forecast, and thus the importance of testing and measuring the different forecasting techniques is emphasized. Forecasts are also never perfect and thus it is important to count for the risks and uncertainties in the forecasts. Additional quantitative research would have to be conducted to conclude if the development proposals yielded in this thesis improve the forecast performance, and what are the sectors for further improvements.
The preliminary purpose of this bachelor’s thesis was to gather information on the forecasting techniques employed at the case company. The utmost aim of this thesis was to yield development proposals for improving the individual forecasting techniques and the overall forecasting process at the case company.
The researched materials were combined to form a framework and used to reflect and compare the techniques employed at the case company. These materials were gathered through extensive research and analysis of the available academic literature and studies. The case company knowledge was acquired through participant observation and analysis of internal documents. The forecasting techniques employed at the case company were reflected and analytically analyzed based on the researched and combined literature.
The findings of this thesis are presented as development proposals for the case company, to improve the individual forecasting techniques and the overall forecasting process. The findings suggested that implementation of the forecast value added method would improve the forecast performance.
The findings indicate that there is no one optimal way to forecast, and thus the importance of testing and measuring the different forecasting techniques is emphasized. Forecasts are also never perfect and thus it is important to count for the risks and uncertainties in the forecasts. Additional quantitative research would have to be conducted to conclude if the development proposals yielded in this thesis improve the forecast performance, and what are the sectors for further improvements.