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Intelligent Design Suggestion and Sales Forecasting for New Products in the Apparel Industry Cover

Intelligent Design Suggestion and Sales Forecasting for New Products in the Apparel Industry

Open Access
|Dec 2023

Abstract

This study demonstrates how algorithms can assist humans in decision-making in the apparel industry. A two-stage method including suggestions and intelligent forecasting was proposed. In the first stage, a web crawler was used to browse a B2C apparel website to identify popular products. In the second stage, machine learning methods were used to predict the sales demand for new products. Additionally, we used Google Trends to collect external information indices to adjust the demand forecasting. Our numerical study shows that the intelligent forecasting approach can effectively reduce the Mean Square Error (MSE), Root Mean Square Error (RMSE), and Mean Absolute Percentage Error (MAPE) by at least 45.79, 26.35, and 26.34 %, respectively.

DOI: https://doi.org/10.2478/ftee-2023-0052 | Journal eISSN: 2300-7354 | Journal ISSN: 1230-3666
Language: English
Page range: 30 - 38
Published on: Dec 15, 2023
Published by: Łukasiewicz Research Network, Institute of Biopolymers and Chemical Fibres
In partnership with: Paradigm Publishing Services
Publication frequency: Volume open

© 2023 Yu-Chung Tsao, Yu-Hsuan Liu, Thuy-Linh Vu, I-Wen Fang, published by Łukasiewicz Research Network, Institute of Biopolymers and Chemical Fibres
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.