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Periodic control of intermittent demand items: theory and empiricial analysis

Syntetos, A and Babai, M and Dallery, Y and Teunter, R H (2009) Periodic control of intermittent demand items: theory and empiricial analysis. Journal of the Operational Research Society, 60 (5). pp. 611-618.

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Abstract

In this paper we propose a modification to the standard forecasting, periodic order-up-to-level inventory control approach to dealing with intermittent demand items, when the lead-time length is shorter than the average inter-demand interval. In particular, we develop an approach that relies upon the employment of separate estimates of the inter-demand intervals and demand sizes, when demand occurs, directly for stock control purposes rather than first estimating mean demand and then feeding the results in the stock control procedure. The empirical performance of our approach is assessed by means of analysis on a large demand data set from the Royal Air Force (RAF, UK). Our work allows insights to be gained on the interactions between forecasting and stock control as well as on demand categorization-related issues for forecasting and inventory management purposes.

Item Type: Article
Journal or Publication Title: Journal of the Operational Research Society
Uncontrolled Keywords: intermittent demand ; forecasting ; periodic stock control ; military logistics ; lead-time
Subjects: UNSPECIFIED
Departments: Lancaster University Management School > Management Science
ID Code: 45114
Deposited By: ep_importer_pure
Deposited On: 11 Jul 2011 19:26
Refereed?: Yes
Published?: Published
Last Modified: 10 Apr 2013 09:20
Identification Number:
URI: http://eprints.lancs.ac.uk/id/eprint/45114

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