The role of forecasting in the development of packaging systems

Abstract

As the competitive market becomes increasingly customized, companies strive to sell high-quality products to meet unique customer demands. We are living in the era of the 4th industrial revolution, where a lot of data is available in supply chain management from various sources and in different formats. Big Data and the Internet of Things (IoT) offer numerous opportunities for the proper utilization and interpretation of this data. Methodologies for forecasting provide assistance in making informed decisions and improving service quality. This document focuses on the role of forecasting in the development of packaging systems. To facilitate the selection of the appropriate packaging system, a conceptual simulation testing method has been developed and is presented in this paper, aiming to conduct impact assessments.