Date Added: Dec 2009
Reverse logistics has gained much attention in recent years. It is becoming a value added area of a supply chain network day by day. For enterprises, it has therefore become essential to manage the reverse flow of materials in an efficient way to gain competitive advantage. One important aspect of reverse logistics is to have a correct and timely estimation of the reverse flow of materials. Improved forecast accuracy leads to a better decision making in strategic, tactical and operational areas of an organization. Intrinsic (time series) and extrinsic (causal) forecasting are some of the well known and frequently used forecasting techniques.