Knowledge Engineering Based Forecasting to Improve Daily Demand Prediction for Refrigerated and Short Shelf-Life Food Supply Chains

The accuracy of demand forecasting for companies in the food industry is highly important, especially for those that deal with products that require refrigeration or that have short shelf-life, given the fact that the freshness and overall quality of the products offered can affect the profit margins for business and the health of the consumers (Doganis et al., 2006). Furthermore, Agrawal and Schorling (1996) as cited by Chen and Ou (2008) highlighted that having easy access to accurate and up-to-date information about demand forecasting is vital for any company aiming to maintain high levels of competitiveness in their market sector. This is even more important for fresh foods wholesalers, whose profit is directly affected by wasted or unsold products and unsatisfied customers (unfulfilled demand), especially when storage facilities are limited.