Can the Vensim PLE version achieve seasonal forecasting?
Posted: Fri Feb 02, 2024 6:04 am
My model's objective is to set safety stock based on the prediction of the next transportation time. Transportation time is influenced by multiple factors and exhibits seasonal patterns; it is longer in the summer and winter seasons and shorter in the spring and autumn seasons. Therefore, I hope to embed a seasonal forecasting module (using the Holt-Winters method) into the model. This module will use historical transportation time data to predict the next transportation time.
Additionally, in the variables I have set for statistical analysis of transportation time, there are instances with a value of 0, indicating no transportation tasks. In such cases, how should I select non-zero data for forecasting?
I have attempted first-order exponential smoothing, but I am uncertain if this approach is reasonable. My basic model is attached for reference.
Looking forward to your insights.
Best, Xuanao
Additionally, in the variables I have set for statistical analysis of transportation time, there are instances with a value of 0, indicating no transportation tasks. In such cases, how should I select non-zero data for forecasting?
I have attempted first-order exponential smoothing, but I am uncertain if this approach is reasonable. My basic model is attached for reference.
Looking forward to your insights.
Best, Xuanao