Foresight in forecasting: the case of petrochemicals

Article Abstract:

Formal computerized modeling for business forecasting is not appropriate for every industry because of problematic elements that do not lend themselves to modeling. The petrochemical industry is used to demonstrate factors to be considered when making decisions involved in gathering forecasting data. The case study demonstrates the potential forecasting problems of: multiple technologies; contractual agreements; chronic excess capacity; input and output switching; government intervention; lack of symmetry in supply functions; and complex decision-making. These factors prevent formal modeling applications in the petrochemical industry. Consequently, a forecasting alternative is in order; in this case, one that combines industry structure understanding, a great deal of qualitative and quantitative data, and purchased external forecasts from commercial models.

Plastics Materials and Synthetics, Case studies, Forecasts and trends, Technology application, Economic forecasting, Petroleum chemicals industry, Petrochemicals industry, Business forecasting

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ECON: an equipment replacement analysis system

Article Abstract:

The economic life analysis module and replacement life analysis module comprise the equipment replacement analysis system (ECON). Both modules are instrumental in determining the economic life of future replacements and the correct time in replacing the existing equipment. In essence, users of ECON gain access to more advanced and sophisticated economic decision making techniques and management systems and ultimately increase their business profits.

Purchasing, Software, Industrial equipment, Replacement of industrial equipment

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Inside the revolution: facility planning at Apple

Article Abstract:

Steve Wosniak and Steve Jobs began their personal computer industry in a California garage in 1976. Today, Apple Computer Inc. has facilities on 3 continents, with growth tripling each year for the past four years. The company uses its own product in facility planning and management.

Management, Computer industry, Jobs, Steven, Apple Inc., Wozniak, Steve

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