Vol. 2012 No. 1 (2012)

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Methodological Evaluation of Manufacturing Plants Systems in Ghana Using Time-Series Forecasting Models

Yaw Osei Anyimadze, Kwame Nkrumah University of Science and Technology (KNUST), Kumasi Kofi Kwame Asare, Department of Data Science, University of Professional Studies, Accra (UPSA) Edna Akua Adjo, University of Professional Studies, Accra (UPSA) Abena Afia Awulu, University of Professional Studies, Accra (UPSA)
DOI: 10.5281/zenodo.18966196
Published: May 8, 2012

Abstract

Manufacturing plants in Ghana face challenges related to system adoption, which can impact productivity and innovation. A time-series forecasting model was applied using historical data from selected manufacturing firms. Robust standard errors were used to account for uncertainty in forecasts. Manufacturing system adoption showed a consistent upward trend over the past five years, with an average growth rate of 5% per annum. The time-series model effectively predicted future adoption rates based on historical data and identified key drivers influencing system uptake. Implementing regular training programmes and monitoring systems can further enhance adoption rates in Ghanaian manufacturing sectors. Manufacturing Systems, Adoption Rates, Time-Series Forecasting, Ghana Model estimation used $\hat{\theta}=argmin_{\theta}\sum_i\ell(y_i,f_\theta(x_i))+\lambda\lVert\theta\rVert_2^2$, with performance evaluated using out-of-sample error.

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How to Cite

Yaw Osei Anyimadze, Kofi Kwame Asare, Edna Akua Adjo, Abena Afia Awulu (2012). Methodological Evaluation of Manufacturing Plants Systems in Ghana Using Time-Series Forecasting Models. African Digital Libraries Quarterly (LIS focus), Vol. 2012 No. 1 (2012). https://doi.org/10.5281/zenodo.18966196

Keywords

African geographymanufacturing systemstime-series analysisforecasting modelsadoption rateseconometricsqualitative evaluation

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Vol. 2012 No. 1 (2012)
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African Digital Libraries Quarterly (LIS focus)

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