Abstract
Manufacturing sales prediction is an important measure of national economic development trends. The plastic injection molding machine industry has its own independent R and D energy and mass production technology, with all products sold globally through international brands. However, most previous injection molding machine studies have focused on R and D, production processes, and maintenance, with little consideration of sales activity. With the development and transformation of Industry 4.0 and the impact of the global economy, Taiwan’s injection molding machine industry growth rate has gradually flattened or even declined, with company sales and profits falling below expectations. Therefore, this study collected key indicators for Taiwan’s export economy from 2008 to 2017 to help understand the impact of economic indicators on injection molding sales. We collected 35 indicators, including net entry rate of employees into manufacturing industries, trend indices, manufacturing industry sales volume indices, and customs export values. We used correlation analysis to select variables affecting plastic injection machine sales and artificial neural networks (ANN) were applied to predict injection molding machine sales at each level. Prediction results were verified against the correlation indicators, and seven key external economic factors were identified to predict accurate changes in company annual sales prediction, which will be helpful for effective resource and risk management.
Highlights
Production and sales volumes for Taiwan’s plastic and rubber machinery in 2017 was $NTD 43.1B, representing 6.4% growth over 2016
Prediction results were verified against the correlation indicators, and seven key external economic factors were identified to predict accurate changes in company annual sales prediction, which will be helpful for effective resource and risk management
Market changes in recent years have been somewhat volatile since plastic and rubber machinery makers are traditional resource-dense industries and manufacturers sought to reduce manufacturing cost by gradually transferred China production bases to Southeast Asia [2]
Summary
Production and sales volumes for Taiwan’s plastic and rubber machinery in 2017 was $NTD 43.1B, representing 6.4% growth over 2016. Production and sales volumes for Taiwan’s plastic and rubber machinery in 2017 was $NTD 43.1. Total export value was $USD 1.163 B, 12.8% increase over. 2016, with corresponding import $USD 0.387 B, 8.7% increase over 2016. 2018 sales volumes were only $NTD 7.6 B, 8.5% reduction compared with the previous year’s $NTD 8.3 B, for 4,528 units. The largest export country was China, Vietnam ($NTD 1.34 B, 21.4%) and India Market changes in recent years have been somewhat volatile since plastic and rubber machinery makers are traditional resource-dense industries and manufacturers sought to reduce manufacturing cost by gradually transferred China production bases to Southeast Asia [2]. Industry 4.0 has rapidly increased the demand for high technology precision machinery and automated equipment, which forced transformations onto plastic and rubber manufacturing industries. It was hoped that the large number of plastic and rubber machinery manufacturers in Taiwan (more than 300 in 2018)
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
