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Applicability of ARIMA Models in Wholesale Vegetable Market: An Investigation

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  • Manish Shukla

    (Quantitative Methods and Operations Management Area, Indian Institute of Management Kozhikode, Kerala, India)

  • Sanjay Jharkharia

    (Quantitative Methods and Operations Management Area, Indian Institute of Management Kozhikode, Kerala, India)

Abstract

To investigate the applicability of ARIMA models in wholesale vegetable market models are built taking sales data of one perishable vegetable from Ahmedabad wholesales market in India. It is found that these models can be applied to forecast the demand with Mean Absolute Percentage Error (MAPE) in the range of 20%. This error is acceptable in fresh produce market where the demand and prices are highly unstable. The model is successfully validated using sales data of another vegetable from the same market. This model can facilitate the farmers and wholesalers in effective decision making.

Suggested Citation

  • Manish Shukla & Sanjay Jharkharia, 2013. "Applicability of ARIMA Models in Wholesale Vegetable Market: An Investigation," International Journal of Information Systems and Supply Chain Management (IJISSCM), IGI Global, vol. 6(3), pages 105-119, July.
    • Handle: RePEc:igg:jisscm:v:6:y:2013:i:3:p:105-119
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    Cited by:

    1. Tendai Makoni & Delson Chikobvu, 2023. "Assessing and Forecasting the Long-Term Impact of the Global Financial Crisis on Manufacturing Sales in South Africa," Economies, MDPI, vol. 11(6), pages 1-17, May.
    2. Gaurvendra Singh & Yash Daultani & Rajendra Sahu, 2022. "Investigating the barriers to growth in the Indian food processing sector," OPSEARCH, Springer;Operational Research Society of India, vol. 59(2), pages 441-459, June.
    3. Arunraj, Nari Sivanandam & Ahrens, Diane, 2015. "A hybrid seasonal autoregressive integrated moving average and quantile regression for daily food sales forecasting," International Journal of Production Economics, Elsevier, vol. 170(PA), pages 321-335.

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