Electricity Consumption Forecasting with Artificial Neural Network for Fast-Moving Consumer Goods Sector

Abstract

Nowadays, it is evident that electricity is an indispensable source of energy in the production sectors when industry 4.0 transformation and sustainability become important at the same time. Electricity consumption forecast has crucial importance for effective energy planning in many production sectors. It is important to predict the total consumption of energy consumption and to make a production plan according to it and therefore to make all the functions in the supply chain cost and optimization plans. In this study, Artificial Neural Networks (ANN) method is used for electricity demand estimation for production processes of cold chain product in the fast moving consumer goods sector (FMCG). The impact of the observed independent variables is analyzed on electricity consumption. Estimates in the model are made for the following periods based on the last three years’ electricity consumption of the one of the big fast moving goods company located in Turkey.