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Book part
Publication date: 17 January 2009

Mark T. Leung, Rolando Quintana and An-Sing Chen

Demand forecasting has long been an imperative tenet in production planning especially in a make-to-order environment where a typical manufacturer has to balance the issues of…

Abstract

Demand forecasting has long been an imperative tenet in production planning especially in a make-to-order environment where a typical manufacturer has to balance the issues of holding excessive safety stocks and experiencing possible stockout. Many studies provide pragmatic paradigms to generate demand forecasts (mainly based on smoothing forecasting models.) At the same time, artificial neural networks (ANNs) have been emerging as alternatives. In this chapter, we propose a two-stage forecasting approach, which combines the strengths of a neural network with a more conventional exponential smoothing model. In the first stage of this approach, a smoothing model estimates the series of demand forecasts. In the second stage, general regression neural network (GRNN) is applied to learn and then correct the errors of estimates. Our empirical study evaluates the use of different static and dynamic smoothing models and calibrates their synergies with GRNN. Various statistical tests are performed to compare the performances of the two-stage models (with error correction by neural network) and those of the original single-stage models (without error-correction by neural network). Comparisons with the single-stage GRNN are also included. Statistical results show that neural network correction leads to improvements to the forecasts made by all examined smoothing models and can outperform the single-stage GRNN in most cases. Relative performances at different levels of demand lumpiness are also examined.

Details

Advances in Business and Management Forecasting
Type: Book
ISBN: 978-1-84855-548-8

Book part
Publication date: 5 October 2018

Nima Gerami Seresht, Rodolfo Lourenzutti, Ahmad Salah and Aminah Robinson Fayek

Due to the increasing size and complexity of construction projects, construction engineering and management involves the coordination of many complex and dynamic processes and…

Abstract

Due to the increasing size and complexity of construction projects, construction engineering and management involves the coordination of many complex and dynamic processes and relies on the analysis of uncertain, imprecise and incomplete information, including subjective and linguistically expressed information. Various modelling and computing techniques have been used by construction researchers and applied to practical construction problems in order to overcome these challenges, including fuzzy hybrid techniques. Fuzzy hybrid techniques combine the human-like reasoning capabilities of fuzzy logic with the capabilities of other techniques, such as optimization, machine learning, multi-criteria decision-making (MCDM) and simulation, to capitalise on their strengths and overcome their limitations. Based on a review of construction literature, this chapter identifies the most common types of fuzzy hybrid techniques applied to construction problems and reviews selected papers in each category of fuzzy hybrid technique to illustrate their capabilities for addressing construction challenges. Finally, this chapter discusses areas for future development of fuzzy hybrid techniques that will increase their capabilities for solving construction-related problems. The contributions of this chapter are threefold: (1) the limitations of some standard techniques for solving construction problems are discussed, as are the ways that fuzzy methods have been hybridized with these techniques in order to address their limitations; (2) a review of existing applications of fuzzy hybrid techniques in construction is provided in order to illustrate the capabilities of these techniques for solving a variety of construction problems and (3) potential improvements in each category of fuzzy hybrid technique in construction are provided, as areas for future research.

Details

Fuzzy Hybrid Computing in Construction Engineering and Management
Type: Book
ISBN: 978-1-78743-868-2

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Self-Learning and Adaptive Algorithms for Business Applications
Type: Book
ISBN: 978-1-83867-174-7

Book part
Publication date: 15 July 2020

Yvonne R. Masakowski

Advances in Artificial Intelligence (AI) technologies and Autonomous Unmanned Vehicles are shaping our daily lives, society, and will continue to transform how we will fight…

Abstract

Advances in Artificial Intelligence (AI) technologies and Autonomous Unmanned Vehicles are shaping our daily lives, society, and will continue to transform how we will fight future wars. Advances in AI technologies have fueled an explosion of interest in the military and political domain. As AI technologies evolve, there will be increased reliance on these systems to maintain global security. For the individual and society, AI presents challenges related to surveillance, personal freedom, and privacy. For the military, we will need to exploit advances in AI technologies to support the warfighter and ensure global security. The integration of AI technologies in the battlespace presents advantages, costs, and risks in the future battlespace. This chapter will examine the issues related to advances in AI technologies, as we examine the benefits, costs, and risks associated with integrating AI and autonomous systems in society and in the future battlespace.

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Artificial Intelligence and Global Security
Type: Book
ISBN: 978-1-78973-812-4

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Self-Learning and Adaptive Algorithms for Business Applications
Type: Book
ISBN: 978-1-83867-174-7

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Transport Science and Technology
Type: Book
ISBN: 978-0-08-044707-0

Book part
Publication date: 4 July 2019

Utku Kose

It is possible to see effective use of Artificial Intelligence-based systems in many fields because it easily outperforms traditional solutions or provides solutions for the…

Abstract

It is possible to see effective use of Artificial Intelligence-based systems in many fields because it easily outperforms traditional solutions or provides solutions for the problems not previously solved. Prediction applications are a widely used mechanism in research because they allow for forecasting of future states. Logical inference mechanisms in the field of Artificial Intelligence allow for faster and more accurate and powerful computation. Machine Learning, which is a sub-field of Artificial Intelligence, has been used as a tool for creating effective solutions for prediction problems.

In this chapter the authors will focus on employing Machine Learning techniques for predicting data for future states of economic using techniques which include Artificial Neural Networks, Adaptive Neuro-Fuzzy Inference System, Dynamic Boltzmann Machine, Support Vector Machine, Hidden Markov Model, Bayesian Learning on Gaussian process model, Autoregressive Integrated Moving Average, Autoregressive Model (Poggi, Muselli, Notton, Cristofari, & Louche, 2003), and K-Nearest Neighbor Algorithm. Findings revealed positive results in terms of predicting economic data.

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Handbook of Transport Geography and Spatial Systems
Type: Book
ISBN: 978-1-615-83253-8

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Topics in Analytical Political Economy
Type: Book
ISBN: 978-1-84950-809-4

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Book part
Publication date: 4 July 2019

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Contemporary Issues in Behavioral Finance
Type: Book
ISBN: 978-1-78769-881-9

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