• Title/Summary/Keyword: Large and Small Business

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An Application of Machine Learning in Retail for Demand Forecasting

  • Muhammad Umer Farooq;Mustafa Latif;Waseemullah;Mirza Adnan Baig;Muhammad Ali Akhtar;Nuzhat Sana
    • International Journal of Computer Science & Network Security
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    • v.23 no.9
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    • pp.1-7
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    • 2023
  • Demand prediction is an essential component of any business or supply chain. Large retailers need to keep track of tens of millions of items flows each day to ensure smooth operations and strong margins. The demand prediction is in the epicenter of this planning tornado. For business processes in retail companies that deal with a variety of products with short shelf life and foodstuffs, forecast accuracy is of the utmost importance due to the shifting demand pattern, which is impacted by an environment of dynamic and fast response. All sectors strive to produce the ideal quantity of goods at the ideal time, but for retailers, this issue is especially crucial as they also need to effectively manage perishable inventories. In light of this, this research aims to show how Machine Learning approaches can help with demand forecasting in retail and future sales predictions. This will be done in two steps. One by using historic data and another by using open data of weather conditions, fuel, Consumer Price Index (CPI), holidays, any specific events in that area etc. Several machine learning algorithms were applied and compared using the r-squared and mean absolute percentage error (MAPE) assessment metrics. The suggested method improves the effectiveness and quality of feature selection while using a small number of well-chosen features to increase demand prediction accuracy. The model is tested with a one-year weekly dataset after being trained with a two-year weekly dataset. The results show that the suggested expanded feature selection approach provides a very good MAPE range, a very respectable and encouraging value for anticipating retail demand in retail systems.

An Application of Machine Learning in Retail for Demand Forecasting

  • Muhammad Umer Farooq;Mustafa Latif;Waseem;Mirza Adnan Baig;Muhammad Ali Akhtar;Nuzhat Sana
    • International Journal of Computer Science & Network Security
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    • v.23 no.8
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    • pp.210-216
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    • 2023
  • Demand prediction is an essential component of any business or supply chain. Large retailers need to keep track of tens of millions of items flows each day to ensure smooth operations and strong margins. The demand prediction is in the epicenter of this planning tornado. For business processes in retail companies that deal with a variety of products with short shelf life and foodstuffs, forecast accuracy is of the utmost importance due to the shifting demand pattern, which is impacted by an environment of dynamic and fast response. All sectors strive to produce the ideal quantity of goods at the ideal time, but for retailers, this issue is especially crucial as they also need to effectively manage perishable inventories. In light of this, this research aims to show how Machine Learning approaches can help with demand forecasting in retail and future sales predictions. This will be done in two steps. One by using historic data and another by using open data of weather conditions, fuel, Consumer Price Index (CPI), holidays, any specific events in that area etc. Several machine learning algorithms were applied and compared using the r-squared and mean absolute percentage error (MAPE) assessment metrics. The suggested method improves the effectiveness and quality of feature selection while using a small number of well-chosen features to increase demand prediction accuracy. The model is tested with a one-year weekly dataset after being trained with a two-year weekly dataset. The results show that the suggested expanded feature selection approach provides a very good MAPE range, a very respectable and encouraging value for anticipating retail demand in retail systems.

Analysis on the Trade Adjustment Assistance Program and the Case Study (무역조정지원(貿易調整支援) 사례(事例)에 관한 연구(硏究))

  • Lee, Ki-Hwan
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.37
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    • pp.277-327
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    • 2008
  • This paper is to provide for an analysis on the trade adjustment assistance program and the Case study affected by international trade and FTA. The paper offers a legal study on analysis about Korea's Trade Adjustment Assistance Law for the Manufacturing Industries, USA's TAA. and Japan's law for Industry revival. In general, USA's TAA measures are defined as assistance actions for business enterprises, farmers and manufacturing industries workers. We exclude farmers and fishermen under Korea's Trade Adjustment Assistance Law for the Manufacturing Industries's business enterprises and workers, but we give them the systemic supports under korea's special assistance law for the farmers and fishermen and so on after FTA. Especially this focuses on the trade adjustment assistance case about both Korea's agriculture-farmer assistance from FTA and USA's TAA from workers in layoffs of trade-impacted communities. Korea has provided TAA to the sphere of agriculture after special legislation in Korea-Chile helping closed orchard, modernizing high quality producing facility for agriculture competition, producing superior fruit saplings, and constructing the distribution center in the producing district. But for US-Korea FTA and rapid increase of import by FTA expansion, we must prepare such indemnity systems for loss as cash benefit and wider aids for closed farm. The USA's TAA program targets manufacturing workers affected by international trade, who may have fewer transferable skills and face greater challenges to reemployment than other dislocated workers. A large majority sought some assistance from their one-stop center. Relatively small numbers chose to enroll in training, but those who did it often used this opportunity to chart a new career path. Finally, we learned the importance of education and discipline from USA cases. The fast and accurate information providing can raise efficiencies. The infrastructure can maximize the effect of TAA. The effective application would help us get over difficulties of TAA at hand.

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The Distribution Condition and Clothing Construction Factors of the Working Clothes - Reference to the Changwon National Industrial Complex -

  • Park, Gin-Ah;Park, Hye-Won
    • Journal of Fashion Business
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    • v.12 no.3
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    • pp.116-135
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    • 2008
  • To investigate the actual distribution condition and clothing construction factors of the working clothes supplied to the Changwon national industrial complex, 5 major companies in machinery, automotive, industrial engineering, shipbuilding and rolling stock in the industrial complex located in Gyeongsangnam-Do were selected. The questionnaire designed for the research consisted of working clothes distribution policies in manufacturing industry and the actual conditions of the design facts, repair and maintenance of the working clothes, etc. The analysis of the clothing construction factors of the working clothes provided by 5 respondent companies were conducted in parallel. The results derived from the study were as follows: The basic types of working clothes were the blouson jacket and straight pants; safety equipments for manufacture were safety helmets, gloves, snickers, goggles, masks, ear caps, wristlets, leggings, apron, etc. The size-charts adopted by the participant companies were the small-medium-large and cm/inch measurement size systems. To solve wearer's dissatisfaction with the garment fit, certain clothing construction factors were used, e.g. strap bands and the elastic band on a waist band. The types of fabrics used for the working clothes were mainly polyester/cotton and polyester/rayon blended ones. Moreover, to provide with more air permeability to wearers, the warp knit material was used to construct the lining and the armpit or back bodice slits. Lock, two-thread chain, safety, overedge stitches were applied with flat, lap felled, French, superimposed, lapped, bound and edge finishing seams to construct the working clothes selected.

The Representative Body Type of Lower Body of Chinese Males in Their 20s (중국(中國) 20대(代) 남성(男性)의 하반신(下半身) 대표체형(代表體型) 연구(硏究))

  • Lee, So-Young;Shim, Boo-Ja
    • Journal of Fashion Business
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    • v.11 no.2
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    • pp.58-75
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    • 2007
  • This study held human measurement for 200 male subjects in their twenties in full age living in Ningbo City, Zhejiang Province in China. Their lower body types were classified and grouped according to shapes and sizes. Consequently, representative body type reflecting shapes, sizes, and characteristics were chosen and presented with their measurement values to be used as the basic data for slacks pattern making and fitness evaluation. The following are the results of the analysis: 1. Homogeneity analysis was given to determine the correspondence relationships among index types, indirect types, and size types. Index Type 1 (H-Round), Indirect Type 2 (Adjacent Straight Legs & Slight Slant of Lateral Lower Body), and Size Type 1 (Medium-Thick) were correlated; Index Type 2 (A-Trapezoid), Indirect Type 1 (Bow Legs & Slight Slant of Lateral Lower Body), and Size Type 3 (Small-Slim) were corresponded; Index Type 3 (A-Balance), Indirect Type 3 (Balance Legs & Large Slant of Lateral Lower Body), and Size Type 2 (Tall-Normal) were mutually related. 2. Mahalanobis distance based on each shape factor (index or indirect) and size factor (absolute) was obtained, while an index-absolute representative body type group (47 people, 24.4%) and an indirect-absolute representative body type group (45 people, 23.7%) were chosen, each reflecting shapes, sizes, and characteristics. 3. The representative body type group of lower body shapes of Chinese males in their 20s had average measurement values, such as 169.15cm (stature), 73.32cm (waist circumference), 75.76cm (omphalion waist circumference), 91.08cm (hip circumference), 106.02cm (outside leg length), 53.96cm (thigh circumference), and 74.42cm (crotch length).

Information Technologies of Accounting and Analysis in Modern Companies

  • Yaremenko, Liudmyla;Hevchuk, Anna;Vuzh, Tetiana;Vashchilina, Elena;Yermolaieva, Maryna
    • International Journal of Computer Science & Network Security
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    • v.21 no.5
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    • pp.151-159
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    • 2021
  • This article addresses the issue of finding optimal solutions using the information technologies of accounting and analysis in modern companies. The aim of the study is to reveal available information technologies for the needs of small, medium and large businesses operating in modern conditions. This goal is achieved by using systematization, comparison, and analysis of information, obtained under the survey and open management statistics. For the first time, the paper systematizes up-to-date information of 2021 about the most popular programs, online services, platforms and cloud services that are used to improve accounting and analytical processes in enterprises of various sizes. The main global trends in software development in terms of COVID-19 pandemic have been identified. In particular, the study defines the countries that occupy the leading positions in the informatization of business processes. An attempt was made to classify information technologies by their use by various volume of businesses. The analysis of research results of the Internet search query frequency regarding the use of information technologies enabled to determine the most popular software products worldwide. The peculiarities of information technologies, their advantages and disadvantages were examined and the common and distinctive features were compared. It was determined that for the new enterprises to implement information technologies, it is necessary to conduct a step-by-step study of all available software products. The software evaluation algorithm was described to help select the optimal software for the specific business processes. The paper also describes the way to solve the problem of using accounting and analysis software for the businesses of a specific kind of activity.

A study on Marine Protected Areas as Fisheries Management Tools (어업자원 관리수단으로서의 해양보호구역제도에 관한 연구)

  • Chae, Dong-Ryul;Nam, Su-Min
    • The Journal of Fisheries Business Administration
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    • v.42 no.3
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    • pp.41-61
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    • 2011
  • Marine protected Areas(MPAs) are specially designated zones of the sea that are designed to secure operation of ecosystem function and to restore marine ecosystem to the original state by excluding all detrimental human activities. MPAs have been proposed in many countries as means of realizing sustainable fisheries and recently MPAs are newly receiving attention as precautionary measure for global warming and climate change. The purpose of this paper is to examine the possibility of MPAs as fisheries management tools through a wide range of literature analysis and to suggest necessity of fisheries purpose of MPAs in Korea. Establishment of marine protected area can accompany various economic benefits such as restoration of marine environment, preservation of habitats, promotion of marine tourism and so on. Especially, a lot of case studies suggested that MPAs may bring out benefits to the fishing industry as a result of enhanced stocks. Fisheries benefits of MPAs on targeted species include increased abundance, increased mean individual size and age, increased reproductive output, enhanced recruitment inside and outside refuge, maintenance of genetic diversity of stocks, and enhanced fishery yields in adjacent fishing grounds, so called spill-over. MPAs for ecosystem conservation and protection of coastal wetland have been applied appropriately and effectively, however, the Korean MPAs system is still detective due to absence of fisheries purpose MPAs. Finally, suggestions for Korean MPAs can be summarized as following four recommendations; to establish number of small-scale MPAs rather than few large MPAs, to designate island and its surrounding areas as reserve, to consider MPA design with stock enhancement program, and to undertake co-management with Eochon-Gye, the traditional coastal community in Korea.

Ambidexterity and Leadership Agility in Micro, Small and Medium Enterprises (MSME)'s Performance: An Empirical Study in Indonesia

  • KUSTYADJI, Gatot;WINDIJARTO, Windijarto;WIJAYANI, Ari
    • The Journal of Asian Finance, Economics and Business
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    • v.8 no.7
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    • pp.303-311
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    • 2021
  • Ambidexterity and leadership agility have become the most researched topics to analyze their application in companies, especially in this dynamic era. Several researchers have analyzed it in large companies. However, only a few have discussed the two topics simultaneously and at the MSME level. This study aims to analyze the relationship between ambidexterity and leadership agility and innovation capability and performance at MSMEs in Yogyakarta and East Java, Indonesia. This study is analyzed by using quantitative methods with SEM (Structural Equation Model) methods. The data in this study is primary data that is obtained through distributing 230 questionnaires to MSME managers in Yogyakarta and East Java, Indonesia. From 230 questionnaires distributed, 200 questionnaires are returned and completed, so the response rate in this study is 86%. The results in this study indicate that ambidexterity and leadership agility have a significant effect on innovation capability and MSME performance. This study also proved that innovation capability has a significant effect on MSME performance. Therefore, it is recommended for MSME managers to develop ambidexterity and leadership agility so they can create innovation and good performance. In the end, this study has provided findings related to the combination of ambidexterity and leadership agility variables.

STUDYING THE CHRONICLE OF TIMBERLAND USING HISTORICAL ORTHOPHOTO AND SATELLITE DATA

  • Cho, Hyoung-Sig;Jayakumar, S.;Heo, Joon
    • Proceedings of the KSRS Conference
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    • 2007.10a
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    • pp.576-579
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    • 2007
  • Timber inventory is a good starting point for developing strategies to effectively manage the timberland. In the sale of timberland, pricing is mostly based on this inventory. For a small timberland, inventory by conventional ground survey could be possible. In the case of large and nationwide business transactions, swift and inexpensive inventory is worth to be considered as the conventional methods require more experienced man power, money and time. In the present study, it was aimed to identify the chronicle of timberland such as changes that has occurred owing to silvicultural activities and by other means using the historical aerial photography and satellite data. Historical aerial photos from National Aerial Photography Program (NAPP), National High Altitude Photography (NHAP), Survey Photography and Landsat satellite data were used. Orthophotos were constructed using the DOQQ and DEM from USGS. Simple photo interpretation technique was employed to classify the orthophoto and satellite data. The plantation area was classified into softwood, mixed and hardwood. The timber age and the corresponding acreage details and the changes were also estimated. The result of this study could be more useful to the timberland buyers to better understand the chronicle of timberland of their interest prior to transactions.

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Corporate Social Responsibility and its Relationship with Increasing Company Value

  • KANG, Sun-Kyung;JUNG, Ha-Yong
    • The Journal of Industrial Distribution & Business
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    • v.13 no.10
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    • pp.23-30
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    • 2022
  • Purpose: The advantages of corporate social responsibility (CSR) include stronger recognition and reputation, which lead to a company's good public image, increased customer loyalty, operational cost saving, and employee retention. The purpose of the present research is to take a close look at the association between CSR and organization's value. Research design, data and methodology: The authors tried to obtain the high-quality textual data from mostly peer-reviewed journals using a PRISMA ((Preferred Reporting Items for Systematic Reviews and Meta-Analyses). The authors was to figure out adequate solutions from limited range of the current literature (only peer-reviewed research) regarding CSR and corporate value. Results: Our investigation indicates that CSR is essential to all businesses as it ensures they keep in touch with society, retaining top personnel, and achieving top financial success. Companies and organizations can engage in four corporate social responsibility initiatives to increase value, including environmental projects, charitable work, honest labor practices, and volunteer activity. Conclusions: An organizations should be involved in the community and consider how its actions affect the environment and society. Small or large businesses are expected to lead in developing a progressive CSR program that benefits people and the environment and continuously changes depending on the social and economic environment.