Sales forecasting for short-life cycled products

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Summary:
Sales forecasting plays a crucial role in different levels of the supply chain, including production, distribution, logistics, marketing, and sales. Short product life cycle and demand uncertainty of technological products pose significant challenges for sales forecasting. This study compares machine learning (ML) forecasting methods with traditional time series forecasting techniques in the context of predicting technological product demand, in order to advance our understanding of demand forecasting methods and drive improvements in business forecasting practice.