Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
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TY - JOUR
T1 - Forecasting for inventory planning
T2 - a 50-year review
AU - Syntetos, A. A.
AU - Boylan, John
AU - Disney, S. M.
N1 - Accepted September 2008
PY - 2009
Y1 - 2009
N2 - Forecasting and planning for inventory management has received considerable attention from the Operational Research (OR) community over the last 50 years because of its implications for decision making, both at the strategic level of an organization and at the operational level. Many influential contributions have been made in this area, reflecting different perspectives that have evolved in divergent strands of the literature, namely: system dynamics, control theory and forecasting theory (both statistical and judgemental). Although this pluralism is healthy in terms of knowledge advancement, it also signifies the fragmentation of the OR discipline and the lack of cross-fertilization of ideas to develop more comprehensive approaches towards the resolution of the same issues. In this paper, the relevant literature is reviewed and synthesized to promote some convergence between these different approaches to inventory forecasting and planning. The review concludes with an inter-disciplinary agenda for further research.
AB - Forecasting and planning for inventory management has received considerable attention from the Operational Research (OR) community over the last 50 years because of its implications for decision making, both at the strategic level of an organization and at the operational level. Many influential contributions have been made in this area, reflecting different perspectives that have evolved in divergent strands of the literature, namely: system dynamics, control theory and forecasting theory (both statistical and judgemental). Although this pluralism is healthy in terms of knowledge advancement, it also signifies the fragmentation of the OR discipline and the lack of cross-fertilization of ideas to develop more comprehensive approaches towards the resolution of the same issues. In this paper, the relevant literature is reviewed and synthesized to promote some convergence between these different approaches to inventory forecasting and planning. The review concludes with an inter-disciplinary agenda for further research.
KW - forecasting
KW - inventory management
KW - system dynamics
KW - control theory
U2 - 10.1057/jors.2008.173
DO - 10.1057/jors.2008.173
M3 - Journal article
VL - 60
SP - S149--S160
JO - Journal of the Operational Research Society
JF - Journal of the Operational Research Society
SN - 0160-5682
ER -