Application of Neural Networks to Explore Manufacturing Sales Prediction

Manufacturing sales prediction is an important measure of national economic development trends. The plastic injection molding machine industry has its own independent R and D energy and mass production technology, with all products sold globally through international brands. However, most previous i...

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Bibliographic Details
Published inApplied sciences Vol. 9; no. 23; p. 5107
Main Authors Wang, Po-Hsun, Lin, Gu-Hong, Wang, Yu-Cheng
Format Journal Article
LanguageEnglish
Published Basel MDPI AG 01.12.2019
Subjects
Algorithms
Back propagation
Correlation analysis
Cost control
Customs
Decision making
Economic development
Economic factors
Economics
Global economy
Growth rate
Impact analysis
Indicators
Injection
Injection molding machines
Inventory
Machinery
Management decisions
Manufacturers
Manufacturing
Manufacturing industry
Mass production
Neural networks
Predictions
Propagation
Regression analysis
Risk management
Rubber
Statistical methods
Trends
China
Taiwan
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Summary:Manufacturing sales prediction is an important measure of national economic development trends. The plastic injection molding machine industry has its own independent R and D energy and mass production technology, with all products sold globally through international brands. However, most previous injection molding machine studies have focused on R and D, production processes, and maintenance, with little consideration of sales activity. With the development and transformation of Industry 4.0 and the impact of the global economy, Taiwan’s injection molding machine industry growth rate has gradually flattened or even declined, with company sales and profits falling below expectations. Therefore, this study collected key indicators for Taiwan’s export economy from 2008 to 2017 to help understand the impact of economic indicators on injection molding sales. We collected 35 indicators, including net entry rate of employees into manufacturing industries, trend indices, manufacturing industry sales volume indices, and customs export values. We used correlation analysis to select variables affecting plastic injection machine sales and artificial neural networks (ANN) were applied to predict injection molding machine sales at each level. Prediction results were verified against the correlation indicators, and seven key external economic factors were identified to predict accurate changes in company annual sales prediction, which will be helpful for effective resource and risk management.
ISSN:2076-3417
2076-3417
DOI:10.3390/app9235107