Statistical analysis of market demand of industrial battery: a case study

Abstract

Forecasting serves as the basis of subsequent planning steps, Although Rahimafrooz Battery Company uses commercial ERP system, it docs nol have a good qualitative forecasting system. As such, development of a good forecasting system was largeted in this research. FOrccasling & statistical analysis have been done by collecting the past six years data of different types ofbalteries. Five types of industrial batteries such as, IB-Local, 113-IPS,IB-Solar, IB-Export, IB-VRLA arc considered for different types of analysis. Moving Average and Least Square Method are applied for forecastIng different types of batteries. Different types of trends are carefully examined by correlation lest and Hypothesis test is done for statislical analy~is. Examining the past six years of data Seasonal Factor is inlroduced. By using Seasonal Faclor and dividing each year into four different quarters, accurate forecasting has been done. According to lhe different analysis, it is seen that there is a sharp increasing trend of demand oftbe IB-IPS and !B-Solar type of batteries. On the other hand, there is a decreasing trend of demand of lBLocal, iB"Export, IB-VRLA type of batterie;.