TY - CHAP
T1 - Propane demand modeling for residential sectors
T2 - A regression analysis
AU - Shenoy, Nitin
AU - Smith, Milton
N1 - Copyright:
Copyright 2013 Elsevier B.V., All rights reserved.
PY - 2011
Y1 - 2011
N2 - The challenges that propane companies face in maintaining a balance in inventories during the summer and winter months, and the factors that influence the residential propane demand were addressed. This chapter presents a forecasting model for propane consumption within the residential sector. Forecasting the propane demand helps to determine whether there will be a shortage of propane in the storage or distribution center, and is there a need for new distribution station or a storage facility, or vice-versa that there is an overabundance of propane, that is, far more than the demand and if there is a need to shut down few facilities. The dynamic behavior of different variables that affected the propane consumption was studied and using Base SAS we developed a forecasting model. The results indicated that the forecasting model provides a potentially useful forecast for residential propane consumption. This research has been limited to forecasting for normal periods, that is periods without irregularities in demand caused by holidays or festivals. The forecasts developed were useful in improving the inventory balance for a local propane company during different months.
AB - The challenges that propane companies face in maintaining a balance in inventories during the summer and winter months, and the factors that influence the residential propane demand were addressed. This chapter presents a forecasting model for propane consumption within the residential sector. Forecasting the propane demand helps to determine whether there will be a shortage of propane in the storage or distribution center, and is there a need for new distribution station or a storage facility, or vice-versa that there is an overabundance of propane, that is, far more than the demand and if there is a need to shut down few facilities. The dynamic behavior of different variables that affected the propane consumption was studied and using Base SAS we developed a forecasting model. The results indicated that the forecasting model provides a potentially useful forecast for residential propane consumption. This research has been limited to forecasting for normal periods, that is periods without irregularities in demand caused by holidays or festivals. The forecasts developed were useful in improving the inventory balance for a local propane company during different months.
UR - http://www.scopus.com/inward/record.url?scp=84884523504&partnerID=8YFLogxK
U2 - 10.1108/S1477-4070(2011)0000008006
DO - 10.1108/S1477-4070(2011)0000008006
M3 - Chapter
AN - SCOPUS:84884523504
SN - 9780857249593
T3 - Advances in Business and Management Forecasting
SP - 31
EP - 40
BT - Advances in Business and Management Forecasting
A2 - Lawrence, Kenneth
A2 - Klimberg, Ronald
ER -