Modeling the demand and supply in a new B2B-upstream market
Modeling the demand and supply in a new B2B-upstream market
Abstract:
Business-to-Business (B2B) services
companies invest heavily in acquiring very expensive assets that they hire out
to serve their clients (e.g. UPS buys huge warehouses and hires them out to
companies), and hence they engage in careful longterm planning and forecasting,
especially when it concerns a new market. It is interesting to note that the
client-firms, on the other hand, decide to hire those assets based mostly on
the prevailing short-term market forces. Hence, it is important for the
companies which provide the assets
for hire to also build the prevailing short-term market trends into their
long-term forecasting and planning. In this paper, we develop a model for
tracking these two simultaneously evolving and interacting patterns, namely the
asset-availability (i.e. supply) and utilization (i.e. demand) patterns, in
order to better understand the underlying processes, and thereby provide a
basis for better forecasting. We test our models using three sets of data
collected from the oil drilling industry, and find the proposed model to
provide a good fit and forecasting efficiency.
Keywords: Marketing;
B2B service; Knowledge updating; Demand and supply; Oil drilling
Author(s): Trichy V. Krishnana, Shanfei Fengb, , Tony Beebec
Source: International Journal of Forecasting 27 (2011) 1160–۱۱۷۷
Subject مدیریت بازاریابی :
Category مقاله مجله :
Release Date: ۲۰۱۱
