Demand forecasting of Jamuna Denims Ltd.

Abstract

After completing my internship in the Commercial Department, I have continued my career with Jamuna Denims Ltd. and this report is presenting a thorough insight of the demand forecasting procedures of this company. Based on my internship and existing job, this paper analyzes the company's method for forecasting demand for denim products by combining theoretical ideas with practical experience. Here, I am using forecasting techniques including time series models, moving averages and exponential smoothing to predict future product demand of this field. Despite the use of statistical techniques, it was clear that seasonality, global economic volatility and the rapidly evolving textile industry may decrease its effectiveness. Therefore, shifting toward assumption based forecasting can enhance the customers’ experiences and also getting feedback from them can increase more reliability. However, this paper gives an accurate representation of how demand planning directly affects production efficiency, inventory control and customers’ satisfaction by using accurate previous data and their viewpoint. In addition, the paper identifies the difficulties in predicting actual market activity and offers specific suggestions for improving forecasting accuracy through the use of digital tools, hybrid models, and real-time data processing.