Document Type : Review Article


1 M.A Student, Faculty of Economics, Management and Accounting, Industrial management group, Yazd University

2 Associate Professor, Faculty of Economics, Management and Accounting, Industrial management group, Yazd University


Forecasting is a part of decision-making system, and the outcomes gained from the businesses and industries are all resulted from the decisions taken in the past by relying upon the future forecasting. When it's difficult to forecast mentally, we need to use modeling. The system dynamics of a modeling tool is based on systems thinking approach; hence, it has the ability to model complex systems using feedback processes. In this paper, we have reviewed the ability of system dynamics to forecast various fields of study such as marketing, supply chain, environment by reviewing 28 research papers.


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Chung, S. H., Jung, D. C., Yoon, S. N., & Lee, D. (2010). A dynamic forecasting model for nursing manpower requirements in the medical service industry. Service Business, 4(3-4), 225-236.
Dyson, B., & Chang, N.-B. (2005). Forecasting municipal solid waste generation in a fast-growing urban region with system dynamics modeling. Waste management, 25(7), 669-679.
Fan, C., Fan, S.-K. S., Wang, C.-S., & Tsai, W.-P. (2016). Modeling computer recycling in Taiwan using system dynamics. Resources, Conservation and Recycling.
Fan, Y., Yang, R.-G., & Wei, Y.-M. (2007). A system dynamics based model for coal investment. Energy, 32(6), 898-905.
Feng, L., Chen, B., Hayat, T., Alsaedi, A., & Ahmad, B. (2017). Dynamic forecasting of agricultural water footprint based on Markov Chain-a case study of the Heihe River Basin. Ecological Modelling, 353, 150-157.
Hein, R., Kleindorfer, P. R., & Spinler, S. (2012). Valuation of electric vehicle batteries in vehicle-to-grid and battery-to-grid systems. Technological Forecasting and Social Change, 79(9), 1654-1671.
Kamath, N. B., & Roy, R. (2007). Capacity augmentation of a supply chain for a short lifecycle product: A system dynamics framework. European Journal of Operational Research, 179(2), 334-351.
Karavezyris, V., Timpe, K.-P., & Marzi, R. (2002). Application of system dynamics and fuzzy logic to forecasting of municipal solid waste. Mathematics and Computers in simulation, 60(3), 149-158.
Kreng, V. B., & Wang, B. J. (2013). An innovation diffusion of successive generations by system dynamics—An empirical study of Nike Golf Company. Technological Forecasting and Social Change, 80(1), 77-87.
Kwon, H., Lyu, B., Tak, K., Lee, J., Cho, J. H., & Moon, I. (2016). Optimization of naphtha purchase price using a price prediction model. Computers & Chemical Engineering, 84, 226-236.
Lee, D. H., Park, S. Y., Kim, J. W., & Lee, S. K. (2013). Analysis on the feedback effect for the diffusion of innovative technologies focusing on the green car. Technological Forecasting and Social Change, 80(3), 498-509.
Lewe, J.-H., Hivin, L., & Mavris, D. (2014). A multi-paradigm approach to system dynamics modeling of intercity transportation. Transportation research part E: logistics and transportation review, 71, 188-202.
Lyneis, J. M. (2000). System dynamics for market forecasting and structural analysis. System Dynamics Review, 16(1), 3.
Ma, T., Ji, J., & Chen, M.-q. (2010). Study on the hydrogen demand in China based on system dynamics model. international journal of hydrogen energy, 35(7), 3114-3119.
Marzouk, M., Marzouk, M., Hosny, I., & Hosny, I. (2016). Modeling housing supply and demand using system dynamics. Housing, Care and Support, 19(2), 64-80.
Peng, M., Peng, Y., & Chen, H. (2014). Post-seismic supply chain risk management: A system dynamics disruption analysis approach for inventory and logistics planning. Computers & Operations Research, 42, 14-24.
Ponnurangam, P., & Umadevi, G. (2016). Traffic Impact Analysis (TIA) for Chennai IT Corridor. Transportation Research Procedia, 17, 234-243.
Qi, C., & Chang, N.-B. (2011). System dynamics modeling for municipal water demand estimation in an urban region under uncertain economic impacts. Journal of environmental management, 92(6), 1628-1641.
Saeed, K. (2008). Trend forecasting for stability in supply chains. Journal of Business Research, 61(11), 1113-1124.
Sahin, O., Siems, R. S., Stewart, R. A., & Porter, M. G. (2016). Paradigm shift to enhanced water supply planning through augmented grids, scarcity pricing and adaptive factory water: a system dynamics approach. Environmental Modelling & Software, 75, 348-361.
Suryani, E., Chou, S.-Y., & Chen, C.-H. (2010). Air passenger demand forecasting and passenger terminal capacity expansion: A system dynamics framework. Expert Systems with Applications, 37(3), 2324-2339.
Suryani, E., Chou, S.-Y., & Chen, C.-H. (2012). Dynamic simulation model of air cargo demand forecast and terminal capacity planning. Simulation Modelling Practice and Theory, 28, 27-41.
Suryani, E., Chou, S.-Y., Hartono, R., & Chen, C.-H. (2010). Demand scenario analysis and planned capacity expansion: A system dynamics framework. Simulation Modelling Practice and Theory, 18(6), 732-751.
Tang, X., Zhang, B., Höök, M., & Feng, L. (2010). Forecast of oil reserves and production in Daqing oilfield of China. Energy, 35(7), 3097-3102.
Thiel, D., Le Hoa Vo, T., & Hovelaque, V. (2014). Forecasts impacts on sanitary risk during a crisis: a case study. The International Journal of Logistics Management, 25(2), 358-378.