2023
Authors
Oliveira, JM; Ramos, P;
Publication
24TH INTERNATIONAL CONFERENCE ON ENGINEERING APPLICATIONS OF NEURAL NETWORKS, EAAAI/EANN 2023
Abstract
Sales forecasts are an important tool for inventory management, allowing retailers to balance inventory levels with customer demand and market conditions. By using sales forecasts to inform inventory management decisions, companies can optimize their inventory levels and avoid costly stockouts or excess inventory costs. The scale of the forecasting problem in the retail domain is significant and requires ongoing attention and resources to ensure accurate and effective forecasting. Recent advances in machine learning algorithms such as deep learning have made possible to build more sophisticated forecasting models that can learn from large amounts of data. These global models can capture complex patterns and relationships in the data and predict demand across multiple regions and product categories. In this paper, we investigate the cross-learning scenarios, inspired by the product hierarchy frequently utilized in retail planning, which enable global models to better capture interdependencies between different products and regions. Our empirical results obtained using M5 competition dataset indicate that the cross-learning approaches exhibit significantly superior performance compared to local forecasting benchmarks. Our findings also suggest that using partial pooling at the lowest aggregation level of the retail hierarchical allows for a more effective capture of the distinct characteristics of each group.
2023
Authors
Coelho, P; Gomes, L; Ramos, P;
Publication
RISKS
Abstract
Evidence of the asymmetric wealth effect has important implications for investors and continues to merit research attention, not least because much of the evidence based on linear models has been refuted. Indeed, stock and house prices are influenced by economic activity and react non-linearly to positive/negative shocks. This problem justifies our research. The objective of this study is to examine evidence of cointegrations between the US housing and stock markets and between the US and European stock markets, given the international relevance of these exchanges. Using data from 1989:Q1 to 2020:Q2, the Threshold Autoregression model as well as the Momentum Threshold Autoregression model were calculated by combining the US Freddie, DJIA, and SPX indices and the European STOXX and FTSE indices. The results suggest a long-term equilibrium relationship with asymmetric adjustments between the housing market and the US stock markets, as well as between the DJIA, SPX, and FTSE indices. Moreover, the wealth effect is stronger when stock prices outperform house prices above an estimated threshold. This empirical evidence is useful to portfolio managers in their search for non-perfectly related markets that allow investment diversification and control risk exposure across different assets.
2023
Authors
Ramos, P; Oliveira, JM;
Publication
APPLIED SYSTEM INNOVATION
Abstract
Retailers must have accurate sales forecasts to efficiently and effectively operate their businesses and remain competitive in the marketplace. Global forecasting models like RNNs can be a powerful tool for forecasting in retail settings, where multiple time series are often interrelated and influenced by a variety of external factors. By including covariates in a forecasting model, we can often better capture the various factors that can influence sales in a retail setting. This can help improve the accuracy of our forecasts and enable better decision making for inventory management, purchasing, and other operational decisions. In this study, we investigate how the accuracy of global forecasting models is affected by the inclusion of different potential demand covariates. To ensure the significance of the study's findings, we used the M5 forecasting competition's openly accessible and well-established dataset. The results obtained from DeepAR models trained on different combinations of features indicate that the inclusion of time-, event-, and ID-related features consistently enhances the forecast accuracy. The optimal performance is attained when all these covariates are employed together, leading to a 1.8% improvement in RMSSE and a 6.5% improvement in MASE compared to the baseline model without features. It is noteworthy that all DeepAR models, both with and without covariates, exhibit a significantly superior forecasting performance in comparison to the seasonal naive benchmark.
2023
Authors
Mesquita, M; Simões, AC; Teles, V;
Publication
Lecture Notes in Mechanical Engineering
Abstract
The Industry 4.0 technologies and servitization are requiring manufacturers to reinvent themselves to remain competitive. In this sense, companies are putting more emphasis on the customer experience, while associating services to their products with the support of emerging technologies. At the same time, actors in the innovation ecosystem such as universities, research institutes, and service providers are involved in the value co-creation process. Thus, this study aims to systemize and present the main findings of a literature review regarding the role of digitalization, servitization, and innovation ecosystem actors in boosting innovation in business models. The study involved 585 articles in international journals and conference proceedings published till 2021. A detailed selection process led 10 articles for further analysis. As a consequence of digitalization and servitization, there has to be an alignment among ecosystem actors to capture the co-created value generated by BMI. Moreover, the combination of BMI, servitization, and digitalization may also be structured into frameworks according to the different levels of each of those factors, thus allowing for companies to assess and position themselves in such frameworks and identify the path to follow. However, any of these articles addressed the combination of the three topics proposed: digitalization, servitization, and the contribution of the innovation ecosystem actors, even if they showed a clear interdependence between these areas, leading to common findings impacting BMI. © 2023, The Author(s), under exclusive license to Springer Nature Switzerland AG.
2023
Authors
Da Silveira, RIM; Torres Júnior, N; Teixeira, R; Simões, AC;
Publication
Exacta
Abstract
2023
Authors
Almeida, D; Simões, AC;
Publication
Proceedings of the 29th International Conference on Engineering, Technology, and Innovation: Shaping the Future, ICE 2023
Abstract
Industrial companies live in a context of dynamic technological innovation, in which new technologies are adopted with a high impact internally and externally, leveraging their competitive advantages. A usual situation is managers deciding to adopt technologies, often without realising the impacts on the company but mainly supported by a strategic vision and the pursuit of differentiation factors. This article aims to present the results of a literature review on the impacts of Industry 4.0 technologies adoption in sustainability dimensions by industrial companies. These impacts were presented according to the three dimensions of sustainability: economic, environmental and social. The results of this study can be used by practitioners and researchers for an overview of the I4.0 technologies adoption by manufacturing companies and their impacts on sustainability dimensions, summarising the knowledge concerning this topic. © 2023 IEEE.
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