Food Production Forecasting with Simple Time Series Models

This article applies simple mathematical (time series) models often used in other industries to food and beverage operations. Technology transfer of management science techniques is imperative for survival and to gain the competitive edge. Improved forecasting is critical to efficient food and beverage operations since all production-related costs are impacted by this basic decision. Simple models with minimal data storage were employed in this study and yielded better performance than the naive model.