Lancaster EPrints

Smoothing and adjustments of demand forecasts for inventory control

Syntetos, Aris A. and Boylan, John (2006) Smoothing and adjustments of demand forecasts for inventory control. In: 12th IFAC Symposium on Information Control Problems in Manufacturing, 2006-05-17 - 2006-05-19, Ecole des Mines.

Full text not available from this repository.

Abstract

Demand forecasting and stock control are traditionally examined as independent of each other. Even though this research-related weakness has been highlighted in the academic literature, little empirical work has been conducted on necessary adjustments that address the issue of interaction between forecasting and stock control. In this paper, the empirical performance of some relevant modifications is examined in detail. The demand data set consists of the individual demand histories of 786 SKUs coming from the Royal Air Force (RAF, UK). The simulation results indicate that there is scope for improving the performance of parametric stock control systems.

Item Type: Contribution to Conference (Other)
Journal or Publication Title: 12th IFAC Symposium on Information Control Problems in Manufacturing
Additional Information: ISBN 9783902661043
Uncontrolled Keywords: inventory control ; estimators ; corrective actions ; Monte Carlo simulation
Subjects:
Departments: Lancaster University Management School > Management Science
ID Code: 73126
Deposited By: ep_importer_pure
Deposited On: 02 Mar 2015 11:50
Refereed?: Yes
Published?: Published
Last Modified: 15 Oct 2018 17:15
Identification Number:
URI: http://eprints.lancs.ac.uk/id/eprint/73126

Actions (login required)

View Item