Forecasting

Company X has been manufacturing seven main classes of sanitary ware products, which demonstrate different trends in sales figures in recent years. Since all these products are produced using a common pool of resources, capacity planning and allocation becomes a challenging task for the company. In the context of this project, the group is expected to analyze historical sales data for the products and develop scenarios for the upcoming two years. Based on these forecasts, capacity requirements will determined using an allocation model.

Forecasting the electricity production of a wind turbine is both technically and financially a very important problem. In that respect, generation companies as well as the overall system operator is trying to make 24-hour and 6-hour generation forecasts based on weather forecasts. In this project, the team will be responsible for collecting raw data that can be used as the independent variables of a forecasting model to be developed.