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Leading Indicators - Demand Characterization for Short Life-Cycle Technology Products (Technology #:091406-01)
Lehigh University Office of Technology Transfer
posted on 01/15/2008
The "leading-indicator engine" is a methodology/software that identifies products that provide advanced warning for demand changes for a product group. The core technique is a statistical method known as the "leading indicator search algorithm" that examines the demand pattern of a given group of products and identify "leading indicators" in the group that demonstrate demand patterns that predict the pattern for the entire group. This algorithm identifies a set of leading indicators and ranks them by,
- How strong the prediction is, and
- How far in advance the prediction can be generated.
The leading indicator methodology not only produces demand forecasts for the product group, it can be used to improve the accuracy of an existing forecasting method as well. The leading-indicator method provides a new perspective on demand forecasting, which has significant implications to capacity planning levels for short life-cycle technology products. The "leading-indicator engine" methodology/software can also be extended to other corporate planning functions such as financial forecasting and inventory forecasting.
ADVANTAGES
Identify "leading indicators" for a product group, which provide advanced warning for demand changes. Additionally, providing a methodology that can be applied to any existing demand forecasting method to improve its forecasting accuracy
APPLICATIONS
- Industries with short lifecycle products, specifically high tech industries
- Planning or forecasting companies or departments
- Market analysts
STATUS OF INTELLECTUAL PROPERTY
A US utility patent application has been filed.
Advantages
Detailed Description
File Number: 091406-01
Web site: http://www.lehigh.edu/ott
Other Information:
A U.S. provisional patent and utility patent application have been filed.
*Inventors:*
S. David Wu
Dean, P.C Rossin College
of Engineering,
Lehigh University
*Licensing Opportunities:*
● Exclusive
● Non-exclusive
● Research Sponsorship
● Product Development Partnerships (PDP)
*Contact Information:*
Office of Technology Transfer
Lehigh University
354 Whitaker Laboratory
5 East Packer Ave.
Bethlehem, PA 18015
Phone: (610) 758-5841
Fax: (610) 758-5888
This innovation currently is not available for online licensing. Please contact Thomas Meischeid at Lehigh University Office of Technology Transfer for more information.
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Principal Investigator:
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David Wu
Innovations (1) |
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Case Manager:
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Thomas Meischeid
Innovations (5) |
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