scholarly journals Forecasting of Palm Oil Fruit Delivery Quantities Using the Trend Adjusted Exponential Smoothing: A Case Study

2012 ◽  
Vol 488-489 ◽  
pp. 1277-1281
Author(s):  
Noor Ajian Mohd-Lair ◽  
Abdul Halim Kudi ◽  
Bih Lii Chua ◽  
Rosalam Sarbatly
Keyword(s):  
Palm Oil ◽  
Method Comparison ◽  
Oil Industry ◽  
Exponential Smoothing ◽  
Smoothing Technique ◽  
Naive Method ◽  
Palm Oil Mill ◽  
Forecast Technique ◽  
Exponential Smoothing Technique

Palm oil industry has increasingly become the important industry for Malaysia. However, only a limited number of researches have been conducted on improving the palm oil industries. This research attempted to contribute by improving forecast activity along the palm oil industry. Specifically, this research centred on the development of forecast software for a Malaysian based palm oil estate. The developed forecasting software can be used to assist the estate manager in predicting accurately their monthly delivery quantity to the palm oil mill. The forecast technique selected for this research was the trend adjusted exponential smoothing technique. The performance of the trend adjusted exponential smoothing technique based software was then compared to the naïve method. Comparison in the performance indicated that the trend adjusted exponential smoothing produces lower root mean square error, which is equivalent to 14.6% of error produced by the naïve method. This finding emphasises the efficiency of the trend adjusted exponential smoothing in predicting the monthly delivery quantity by the palm oil estate.

scholarly journals Forecasting Malaysian Ringgit Using Exponential Smoothing Techniques

2021 ◽  
Vol 6 (2) ◽  
pp. 1-10
Author(s):  
Noreha Mohamed Yusof ◽  
Norani Amit ◽  
Nor Faradilah Mahad ◽  
Noorezatty Mohd Yusop
Keyword(s):  
Exchange Rate ◽  
Foreign Currency ◽  
The United States ◽  
Exponential Smoothing ◽  
Percentage Error ◽  
Smoothing Technique ◽  
Smoothing Techniques ◽  
United States Dollar ◽  
Double Exponential Smoothing ◽  
Exponential Smoothing Technique

Forecasting the foreign currency exchange is a challenging task since it is influenced by political, economic and psychological factors. This paper focuses on the forecasting Malaysian Ringgit (MYR) exchange rate against the United States Dollar (USD) using Exponential Smoothing Techniques which are Single Exponential Smoothing, Double Exponential Smoothing, and Holt’s method. The objectives of this paper are to identify the best Exponential Smoothing Technique that describes MYR for 5 years period and to forecast MYR 12 months ahead by using the best Exponential Smoothing Technique. The comparison between these techniques is also made and the best one will be selected to forecast the MYR exchange rate against USD. The result showed that Holt’s method has the smallest value of error measure which depending on the Mean Square Error (MSE) and Mean Absolute Percentage Error (MAPE) for the evaluation part. The MSE is 1.43915x10-14 and MAPE is 2.5413 x 10-6. Meanwhile, the forecast value of MYR in August 2019 is RM 4.30226.

scholarly journals AGRO-INDUSTRIAL WASTE SUSTAINABLE MANAGEMENT – A POTENTIAL SOURCE OF ECONOMIC BENEFITS TO PALM OIL MILLS IN MALAYSIA

2017 ◽  
pp. 108-118 ◽  
Author(s):  
Wai Loan Liew ◽  
Khalida Muda ◽  
Mohd. Azraai Kassim ◽  
Augustine Chioma Affam ◽  
Soh Kheang Loh
Keyword(s):  
Palm Oil ◽  
Sustainable Management ◽  
Industrial Waste ◽  
Oil Industry ◽  
Economic Benefits ◽  
Empty Fruit Bunches ◽  
Financial Benefits ◽  
Palm Oil Mill ◽  
Palm Oil Mill Sludge ◽  
Oil Fuel

Over the decades the palm oil industry has managed some challenging environmental concerns regarding land transformation and degradation, increase in eutrophication, changing habitats of wildlife, pesticides runoff into inland watercourses, and probable climate change. Countries producing palm oil desire to do so in a more sustainable way that will leave the environment evergreen. Therefore this paper aims to encourage sustainable management of agro-industrial waste and its potential in making financial returns from the same waste. Hence, the study was conducted with the participation of seven local palm oil mills having different capacities and operation age. Attention was given to milling waste as they could cause serious environmental menace if unattended to properly. Milling waste includes lignocellulosic palm biomass namely the empty fruit bunches (EFB), oil palm shell (OPS), mesocarp fibres, palm oil mill effluent (POME), and palm oil mill sludge (POMS), as well as solid waste generated from the further processing of these biomass into the palm oil fuel ashes (POFA) and palm oil clinkers (POC). The opportunities available to the Malaysian palm oil industry and the financial benefits which may accrue from waste generated during palm oil production process cannot be over emphasized.

Sign in / Sign up

Export Citation Format

Share Document