Project InnoFit is developing innovative forecasting tools for improved production planning
Weak points in the exchange of information between customers and suppliers can lead to overproduction, high inventory levels, unnecessary overtime or enormous special transport costs. Project “InnoFit” seeks to improve the quality of planning. With this project, St. Pölten University of Applied Sciences, Upper Austria UAS and company partners are developing innovative forecasting tools, which take advantage of novel information technologies. In addition, the project is examining the impact of forecasting quality and the influence of weak points in information exchange on hierarchical planning in companies.
Realistic simulation studies
In order to be able to use the modern information technologies of Industry 4.0 for forecasts, the project team is developing current innovative visualizations to analyse customer-ordering behaviour and later make these recordable in mathematical models. Realistic simulation studies will then determine the potential for improvement of these new tools. Subsequently, the forecasting tools developed are to be used under real conditions in pilot projects at the company partners: NKE Austria, ZF Steyr, MWS Hightec and Lecapell. The Hagenberg based research company RISC Software GmbH with its focus on logistics informatics is involved in the project as a scientific partner. Later, it will also serve as an IT-implementation partner.
After completion of the project, the results will be made available in the form of a guideline for forecast improvement for Austrian companies.
Project InnoFit: Information Technology in Forecasting Tools
The project is funded by the Austrian Research Promotion Agency FFG and runs from the 1st of June 2018 to the 31st of May 2021. The project partners are Upper Austria UAS Campus Steyr, RISC Software GmbH, NKE Austria GmbH, ZF Steyr, MWS Hightec GmbH and Lecapell GmbH.
- More about the project InnoFit