Towards Improvements in the Forecasting Model – A Case Study of ELAN Clothing

ELAN is a fashion brand, started in 2006, famous for its bridal wear and tastefully body-conscious silhouettes. ELAN is a producer of luxury prêt-a-porter, Lawn and casual avant-garde outfits with stark interest in fashion. The project intended to assess the current forecasting model to find the gaps and propose a more refined model as per the needs of the ELAN clothing. The data assessed in this project was given by the company and comprised of monthly actual sales data of last one year for Ready to Wear (RTW) product line.

The more refined model based on Holt-Winter model was proposed. Other than that, some suggestions regarding data collection were also proposed in line with the use of latest forecasting methods.