Multi-layer neural networks for sales forecasting

Abstract

Predicting business operations on the basis of previous events plays an important role in managing a company. In the paper, we predict monthly sales volume of a textile warehouse by mathematical tools. To this end we use a feedforward artificial neural network trained on past data. The network predicted the volume with high accuracy. For the examined company, such prediction is very important as nearly the entire range of products is imported from different countries and the goods have to be ordered in advance.