Volume 4, Issue 1, September 2013, Pages 75–82
Mustafa Batuhan AYHAN1 and Ercan OZTEMEL2
1 Department of Industrial Engineering, University of Marmara, Istanbul, Turkey
2 Department of Industrial Engineering, University of Marmara, Istanbul, Turkey
Original language: English
Copyright © 2013 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Successful technological forecasting is important to invest scarce funds to emerging technologies. A generic model to measure the success of forecasting overall technological changes is introduced in this paper, called degree of Technological Forecasting Capability. It measures the success rate of forecasts in manufacturing processes based on four important aspects of a manufacturing system; Flow Time, Quantity/Day, Scrap Ratio, and New Investment Revenue. The proposed approach has been verified with a case study in manufacturing industry, where each of 4 facets have been calculated based on the data provided and aggregated into the degree of forecasting capability.
Author Keywords: Technological Forecasting, Metric, Degree, Capability, Manufacturing.
Mustafa Batuhan AYHAN1 and Ercan OZTEMEL2
1 Department of Industrial Engineering, University of Marmara, Istanbul, Turkey
2 Department of Industrial Engineering, University of Marmara, Istanbul, Turkey
Original language: English
Copyright © 2013 ISSR Journals. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Abstract
Successful technological forecasting is important to invest scarce funds to emerging technologies. A generic model to measure the success of forecasting overall technological changes is introduced in this paper, called degree of Technological Forecasting Capability. It measures the success rate of forecasts in manufacturing processes based on four important aspects of a manufacturing system; Flow Time, Quantity/Day, Scrap Ratio, and New Investment Revenue. The proposed approach has been verified with a case study in manufacturing industry, where each of 4 facets have been calculated based on the data provided and aggregated into the degree of forecasting capability.
Author Keywords: Technological Forecasting, Metric, Degree, Capability, Manufacturing.
How to Cite this Article
Mustafa Batuhan AYHAN and Ercan OZTEMEL, “A Quantitative Approach for Measuring Technological Forecasting Capability,” International Journal of Innovation and Applied Studies, vol. 4, no. 1, pp. 75–82, September 2013.
