Journal of Open Innovation: Technology, Market, and Complexity最新文献

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Understanding the determinants of the empowered earthworm farmers’ behavior 了解赋权蚯蚓养殖户行为的决定因素
Journal of Open Innovation: Technology, Market, and Complexity Pub Date : 2024-10-24 DOI: 10.1016/j.joitmc.2024.100413
Yennita Sihombing , Cahyati Setiani , Munir Eti Wulanjari , I Gede Mahatma Yuda Bakti , Sih Damayanti , Sik Sumaedi , Tri Rakhmawati , Samuel Fery Purba , Lintje Hutahaean , Yiyi Sulaeman , Wasito , Istriningsih , Sortha Simatupang
{"title":"Understanding the determinants of the empowered earthworm farmers’ behavior","authors":"Yennita Sihombing ,&nbsp;Cahyati Setiani ,&nbsp;Munir Eti Wulanjari ,&nbsp;I Gede Mahatma Yuda Bakti ,&nbsp;Sih Damayanti ,&nbsp;Sik Sumaedi ,&nbsp;Tri Rakhmawati ,&nbsp;Samuel Fery Purba ,&nbsp;Lintje Hutahaean ,&nbsp;Yiyi Sulaeman ,&nbsp;Wasito ,&nbsp;Istriningsih ,&nbsp;Sortha Simatupang","doi":"10.1016/j.joitmc.2024.100413","DOIUrl":"10.1016/j.joitmc.2024.100413","url":null,"abstract":"<div><div>Earthworm (<em>Lumbricus rubellus</em>) farming offers a unique solution for poverty alleviation in rural Indonesia by transforming agricultural waste into economic opportunities while supporting sustainable farming practices. Empowering these farmers is crucial for enhancing their cultivation techniques and economic outcomes. This study examines the key factors that influence the behavior of empowered earthworm farmers, using the Theory of Planned Behavior (TPB) as its framework. Conducted in Temanggung Regency, Central Java Province, Indonesia, in 2023, the study involved 201 respondents selected through a snowball sampling method. Information was gathered via a survey and then examined using PLS-SEM. The findings indicate that empowerment programs significantly influence farmers’ attitudes, social norms, and perceived behavioral control, which drive their intention to become empowered. Empowered intentions and perceived behavioral control strongly predict farmers’ empowered behaviors, which, in turn, enhance their economic well-being. Notably, the study also found that farmers' personality traits do not moderate the relationship between intention and behavior, suggesting that empowerment programs are broadly effective across different farmer profiles. This study underscores the importance of empowerment initiatives in promoting sustainable farming practices, improving farmers' livelihoods, notably the livelihood of farmers, as the empowerment program is based on dynamic open innovation.</div></div>","PeriodicalId":16678,"journal":{"name":"Journal of Open Innovation: Technology, Market, and Complexity","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-10-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142578480","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
FASECO: A Framework for Advanced Support of E-Commerce and digital transformation in SMEs with natural language processing-enhanced analysis FASECO:利用自然语言处理强化分析为中小企业电子商务和数字化转型提供高级支持的框架
Journal of Open Innovation: Technology, Market, and Complexity Pub Date : 2024-10-22 DOI: 10.1016/j.joitmc.2024.100412
Luis Miguel Garay Gallastegui , Ricardo Reier Forradellas
{"title":"FASECO: A Framework for Advanced Support of E-Commerce and digital transformation in SMEs with natural language processing-enhanced analysis","authors":"Luis Miguel Garay Gallastegui ,&nbsp;Ricardo Reier Forradellas","doi":"10.1016/j.joitmc.2024.100412","DOIUrl":"10.1016/j.joitmc.2024.100412","url":null,"abstract":"<div><h3>Objectives</h3><div>The primary aim of this study is to develop a framework that identifies the factors, organizational processes, and mechanisms that facilitate the successful integration of e-commerce within the digital transformation journey of Small and medium-sized enterprises (SMEs). The FASECO framework seeks to enhance strategic alignment, IT infrastructure, customer experience, and data analytics in SMEs, and is compared with existing theoretical frameworks to provide a holistic solution.</div></div><div><h3>Methods/Approach</h3><div>The research employs a mixed-methods approach, starting with an extensive literature review on digital transformation and e-commerce integration in SMEs, followed by qualitative semi-structured interviews with 13 industry professionals. The data is analysed using thematic analysis, significantly enhanced by Natural Language Processing (NLP) tools, which allowed for the extraction of deeper insights into e-commerce adoption challenges and organizational dynamics that traditional methods might overlook.</div></div><div><h3>Results</h3><div>The study reveals that effective e-commerce integration in SMEs requires robust IT infrastructure, strategic alignment, personalized customer experiences, and data-driven decision-making. The FASECO framework supports SMEs by providing a comprehensive structure that bridges the gap between strategy and technology, enhancing their digital maturity and competitiveness. The framework’s holistic approach and detailed comparison with existing models underscore its effectiveness.</div></div><div><h3>Conclusions</h3><div>The FASECO framework offers a novel approach tailored to SMEs for digital transformation and e-commerce integration, highlighting the critical role of strategic and technological alignment in achieving digital maturity and competitive advantage. The use of NLP techniques in this study enhanced the analysis of qualitative data, providing deeper insights into organizational processes. Future research should explore the adaptation of this model for micro-SMEs and the integration of emerging technologies.</div></div>","PeriodicalId":16678,"journal":{"name":"Journal of Open Innovation: Technology, Market, and Complexity","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-10-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142530142","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The interplay of digital transformation, agility, environmental volatility, and innovation to spur enterprise performance: Evidence from Chinese electric vehicle firms 数字化转型、敏捷性、环境波动和创新的相互作用促进企业绩效:来自中国电动汽车企业的证据
Journal of Open Innovation: Technology, Market, and Complexity Pub Date : 2024-10-22 DOI: 10.1016/j.joitmc.2024.100408
Boonsub Panichakarn , Jessada Pochan , Muhammad Shafiq , Irfan Saleem , YanQing Wang , Sonia Nazeer
{"title":"The interplay of digital transformation, agility, environmental volatility, and innovation to spur enterprise performance: Evidence from Chinese electric vehicle firms","authors":"Boonsub Panichakarn ,&nbsp;Jessada Pochan ,&nbsp;Muhammad Shafiq ,&nbsp;Irfan Saleem ,&nbsp;YanQing Wang ,&nbsp;Sonia Nazeer","doi":"10.1016/j.joitmc.2024.100408","DOIUrl":"10.1016/j.joitmc.2024.100408","url":null,"abstract":"<div><div>Given the rapid growth of China's electric vehicle (EV) industry, with sales expected to reach over 10 million units annually by 2025, there is an urgent need to understand how digital logistics, supply chain agility, and innovation can drive sustainable performance amidst increasing environmental volatility. This study utilises the dynamic capability theory and proposes a framework that examines the interplay between digital transformation, agility, dual innovation, environmental volatility, and enterprise performance. A survey was circulated among the managers working in the EV industry. We received 197 responses. The data was analysed using Smart PLS software using structural equation modelling (SEM). The findings reveal that digital transformation has significant positive relationships with enterprise performance, agile capability, and innovation capability. Additionally, agile and innovation capabilities have positive effects on enterprise performance. The study recommends investment in digital transformation programs and fostering an agile, innovative culture in the EV industry.</div></div>","PeriodicalId":16678,"journal":{"name":"Journal of Open Innovation: Technology, Market, and Complexity","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-10-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142530140","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Greening the future: How social networks and media shapes youth's eco-friendly purchases 绿化未来:社交网络和媒体如何影响年轻人的环保购物行为
Journal of Open Innovation: Technology, Market, and Complexity Pub Date : 2024-10-20 DOI: 10.1016/j.joitmc.2024.100410
Le Thanh Truc
{"title":"Greening the future: How social networks and media shapes youth's eco-friendly purchases","authors":"Le Thanh Truc","doi":"10.1016/j.joitmc.2024.100410","DOIUrl":"10.1016/j.joitmc.2024.100410","url":null,"abstract":"<div><div>Consumers' environmental information acquisition from social networks and media facilitates the sharing of recommendations on environmentally friendly products, sustainable initiatives, and environmental protection activities. This study investigates the crucial role of consumers' information acquisition from social networks and media in shaping their intentions to purchase green products in Vietnam. A mixed-methods approach was employed, combining qualitative and quantitative research methods to comprehensively explore the relevant driving factors. The qualitative analysis involved 12 participants, who were surveyed and participated in individual interviews and group discussions, providing in-depth insights into consumer perceptions and behaviors. Quantitative data was collected through a survey questionnaire from 377 respondents, with 348 valid responses used for analysis. Statistical techniques, including Cronbach's Alpha, exploratory factor analysis (EFA), confirmatory factor analysis (CFA), and structural equation modeling (SEM), were utilized for data analysis. The findings highlight the significant impact of consumers' environmental information acquisition from social networks and media on perceived consumer effectiveness, environmental concern, and attitudes toward green products. Importantly, these factors were found to positively influence consumers' intentions to purchase green products. The study's results offer relevant implications for the green purchasing field, encouraging businesses to take more proactive steps in acknowledging and adapting to a better environmental and climate future. The integration of social networks and media platforms and fresh updates from businesses will serve as a foundation for groundbreaking initiatives, positioning green purchasing as a behavior shaped by consumer consciousness and action.</div></div>","PeriodicalId":16678,"journal":{"name":"Journal of Open Innovation: Technology, Market, and Complexity","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142578481","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Data analytics-driven innovation: UTAUT model perspectives for advancing healthcare social work 数据分析驱动的创新:从UTA模式的角度推动医疗社会工作的发展
Journal of Open Innovation: Technology, Market, and Complexity Pub Date : 2024-10-18 DOI: 10.1016/j.joitmc.2024.100411
Suliman Abdalla , Wafa Al-Maamari , Jamal Al-Azki
{"title":"Data analytics-driven innovation: UTAUT model perspectives for advancing healthcare social work","authors":"Suliman Abdalla ,&nbsp;Wafa Al-Maamari ,&nbsp;Jamal Al-Azki","doi":"10.1016/j.joitmc.2024.100411","DOIUrl":"10.1016/j.joitmc.2024.100411","url":null,"abstract":"<div><div>In today’s dynamic and increasingly complex healthcare landscape, leveraging data analytics in decision-making processes has become indispensable for fostering innovation and enabling more effective, data-driven approaches to healthcare delivery. This study explores the factors influencing the adoption of data analytics techniques in healthcare social work practice. It is guided by the Unified Theory of Acceptance and Use of Technology (UTAUT) model and is aligned with key principles of open innovation dynamics. The analysis, conducted through binary logistic regression, revealed that facilitating conditions, effort expectancy, and self-efficacy are the most influential predictors of healthcare social workers’ intention to adopt data analytics. This underscores the critical role of organizational support, perceived ease of use, and individual confidence in fostering the adoption of innovative data-driven practices within healthcare social work. The results also indicate that social influence has a limited impact on shaping adoption decisions. The study’s findings have significant practical implications for healthcare decision-makers, social workers, and other stakeholders aiming to advance service delivery and improve patient outcomes through innovative data-driven solutions.</div></div>","PeriodicalId":16678,"journal":{"name":"Journal of Open Innovation: Technology, Market, and Complexity","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-10-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142530141","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The role of universities in enabling open innovation through the development of digital competence of faculty 大学在通过培养教师的数字化能力促进开放式创新方面的作用
Journal of Open Innovation: Technology, Market, and Complexity Pub Date : 2024-10-17 DOI: 10.1016/j.joitmc.2024.100409
Inga Jekabsone , Alla Anohina-Naumeca
{"title":"The role of universities in enabling open innovation through the development of digital competence of faculty","authors":"Inga Jekabsone ,&nbsp;Alla Anohina-Naumeca","doi":"10.1016/j.joitmc.2024.100409","DOIUrl":"10.1016/j.joitmc.2024.100409","url":null,"abstract":"<div><div>The concept of open innovation, which involves the intentional exchange of internal and external knowledge to accelerate innovation, has been widely discussed in business management but, in recent years, has also entered the academic community. This concept aligns closely with the university's mission to advance knowledge, foster creativity, and address real-world problems. The present study aims to examine the role of universities in promoting educational innovation as a form of open innovation through developing the digital competence of faculty and using external sources of knowledge. Accordingly, this study explores the following research questions: 1) What educational innovations are facilitated by developing faculty's digital competence? 2) To what extent are these educational innovations linked to external knowledge sources? The study is based on the following research methods: scientific literature review, focus group discussion with faculty members, and conceptual model development through data triangulation. The findings position digital competence as an enabler of educational innovations and highlight the university's role in creating a conducive environment for open innovation by enabling collaboration with various actors, accessing and sharing knowledge and empowering the participation of diverse stakeholders. Moreover, the study concludes that enhancing faculty digital competence, integrating external knowledge through collaborative spaces, fostering industry partnerships, and investing in digital infrastructure can create a dynamic ecosystem that supports open innovation as an educational innovation.</div></div>","PeriodicalId":16678,"journal":{"name":"Journal of Open Innovation: Technology, Market, and Complexity","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-10-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142530133","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Evolution to entrepreneurial hospital led by open innovation: A case of Korean hospital industry 开放式创新引领医院向创业型医院发展:韩国医院行业案例
Journal of Open Innovation: Technology, Market, and Complexity Pub Date : 2024-10-16 DOI: 10.1016/j.joitmc.2024.100405
Kwangsoo Shin , Intaek Lim , Harry Jeong
{"title":"Evolution to entrepreneurial hospital led by open innovation: A case of Korean hospital industry","authors":"Kwangsoo Shin ,&nbsp;Intaek Lim ,&nbsp;Harry Jeong","doi":"10.1016/j.joitmc.2024.100405","DOIUrl":"10.1016/j.joitmc.2024.100405","url":null,"abstract":"<div><div>The role of hospitals as leaders of innovation in the bio health industry is emerging in the bio health industry. Hospitals are evolving from medical treatment-centered traditional hospitals to innovation-centered entrepreneurial hospitals that focus on research and development (R&amp;D), and technology commercialization. A series of commercialized medical technologies by clinicians in hospital turns into business models in collaboration with firms. However, few studies have attempted a practical approach to entrepreneurial hospitals. Therefore, this study aims to explore the transformation of traditional hospitals to entrepreneurial hospitals through Korean hospital cases. This study studied the Korean government's initiatives related to supporting entrepreneurial hospitals. In addition, this study conducted interviews with key stakeholders involved in hospital-based innovation networks. Korea has been promoting entrepreneurial hospitals based on open innovation since 2004, and various government-supported projects have been carried out in parallel, making it suitable for examining the development trajectory and challenges from a research perspective. The findings of this study provide a theoretical framework for research on hospital-based open innovation.</div></div>","PeriodicalId":16678,"journal":{"name":"Journal of Open Innovation: Technology, Market, and Complexity","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-10-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142530139","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Forecasting firm growth resumption post-stagnation 预测停滞后企业恢复增长的情况
Journal of Open Innovation: Technology, Market, and Complexity Pub Date : 2024-10-16 DOI: 10.1016/j.joitmc.2024.100406
Darko B. Vuković , Vladislav Spitsin , Aleksander Bragin , Victoria Leonova , Lubov Spitsina
{"title":"Forecasting firm growth resumption post-stagnation","authors":"Darko B. Vuković ,&nbsp;Vladislav Spitsin ,&nbsp;Aleksander Bragin ,&nbsp;Victoria Leonova ,&nbsp;Lubov Spitsina","doi":"10.1016/j.joitmc.2024.100406","DOIUrl":"10.1016/j.joitmc.2024.100406","url":null,"abstract":"<div><div>Our study forecasts the likelihood of firms resuming growth after periods of stagnation or declining sales. We employ machine learning methods, including Random Forest, LightGBM, and CatBoost, alongside logistic regression models. To address class imbalance, we incorporate oversampling techniques such as SMOTE, ADASYN, and SMOTEENN. We focus on two key indicators—Precision (predictive accuracy) and Recall (completeness of prediction)—to meet the needs of different investor groups. The performance of our models is evaluated using metrics such as accuracy, precision, recall, F-score, and RocAUC, with Venkatraman's test applied for model comparison. Our key findings reveal that CatBoost achieves a predictive accuracy of 65–67 %, significantly outperforming random firm selection, which yields only 13–17 % accuracy. The combination of the CatBoost method with the SMOTEENN technique notably enhances Recall values, reaching 58–63 %, a critical metric for large investors and policymakers. Our study offers a methodological approach to better understand and forecast the trajectories of firms engaged in open innovation.</div></div>","PeriodicalId":16678,"journal":{"name":"Journal of Open Innovation: Technology, Market, and Complexity","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-10-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142538300","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Contestation in social acceptance of direct air capture (DAC) technologies in Korea by differing framings over governance principles 韩国社会对直接空气捕集(DAC)技术的接受程度因治理原则框架不同而存在争议
Journal of Open Innovation: Technology, Market, and Complexity Pub Date : 2024-10-15 DOI: 10.1016/j.joitmc.2024.100403
Chaewoon Oh
{"title":"Contestation in social acceptance of direct air capture (DAC) technologies in Korea by differing framings over governance principles","authors":"Chaewoon Oh","doi":"10.1016/j.joitmc.2024.100403","DOIUrl":"10.1016/j.joitmc.2024.100403","url":null,"abstract":"<div><div>Recently, DAC technologies have been recognized as a viable innovation in Korea’s mitigation efforts. In 2023, while formulating a specific implementation plan to meet the national mitigation target in Korea’s 2030 nationally determined contribution (NDC), the government considered setting a separate mitigation target for DAC technologies alongside the existing target for carbon capture, storage, and utilization (CCUS) technologies. During government-wide meetings, a clear divide emerged between supporters and opponents. Despite strong demand from supporters, the final national implementation plan did not include a mitigation target for DAC technologies. Focusing on this contestation, this paper explores why setting a separate target for DAC technologies was contested and not accepted at the policy-drafting stage. From the theoretical ground of social acceptance of new and innovative technologies, this paper utilizes four governance principles as social norms with which stakeholders understand and interpret DAC technologies, and analyzes differing framings on DAC technologies. Research results show that dominant framing approaches, hindering the establishment of a DAC technology-specific mitigation target, are i) risks of considering short-term and binding targets in commensurate with long-term targets through DAC technologies, ii) the uncertainty of mitigation potentials by technologically and methodologically under-developed DAC technologies, and iii) the inefficiency of financial investment for DAC technologies. This paper concludes with policy recommendations, emphasizing the need to establish binding short- and mid-term targets in alignment with the 2050 long-term target, government support for technology demonstrations, methodological assistance for leveraging carbon markets, and a redefinition of the relationship between CCUS and DAC technologies.</div></div>","PeriodicalId":16678,"journal":{"name":"Journal of Open Innovation: Technology, Market, and Complexity","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142530136","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
An open innovative inventory management based demand forecasting approach for the steel industry 钢铁行业基于需求预测的开放式创新库存管理方法
Journal of Open Innovation: Technology, Market, and Complexity Pub Date : 2024-10-15 DOI: 10.1016/j.joitmc.2024.100407
Nonthaphat Sukolkit, Sirawadee Arunyanart, Arthit Apichottanakul
{"title":"An open innovative inventory management based demand forecasting approach for the steel industry","authors":"Nonthaphat Sukolkit,&nbsp;Sirawadee Arunyanart,&nbsp;Arthit Apichottanakul","doi":"10.1016/j.joitmc.2024.100407","DOIUrl":"10.1016/j.joitmc.2024.100407","url":null,"abstract":"<div><div>This research focuses on accurately forecasting steel wire mesh demand to ensure timely order fulfillment. Various univariate time series forecasting methods were employed, including Prophet, Support Vector Regression (SVR), 1-Dimensional Convolutional Neural Network (1D-CNN), Recurrent Neural Network (RNN), Gated Recurrent Unit (GRU), and Long Short-Term Memory (LSTM). These RNN-based models were implemented to enhance the dynamics of open innovation. The study also employed the split test method to assess the impact of data size on model performance. Following a comprehensive comparative analysis, LSTM outperformed other models at 80:20 data split ratio, achieving the lowest RMSE of 51,473 and MAPE of 1.43. The robust performance of LSTM underscores its ability to expertly predict complex demand patterns. Moreover, forecast accuracy was enhanced using ensemble models, with RNN-LSTM delivering the best results (RMSE of 45,931 and MAPE of 1.20) at the same data split ratio. This accurate forecasting supports steel wire mesh companies in making informed decisions regarding inventory management. The study additionally demonstrated the integration of forecasting results into inventory strategies to improve decision-making for cost optimization.</div></div>","PeriodicalId":16678,"journal":{"name":"Journal of Open Innovation: Technology, Market, and Complexity","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2024-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142530138","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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