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Accuracy and accuracy-implication metrics for intermittent demand

Research output: Contribution to journalJournal articlepeer-review

Published
<mark>Journal publication date</mark>2006
<mark>Journal</mark>Foresight: The International Journal of Applied Forecasting
Volume4
Number of pages4
Pages (from-to)39-42
Publication StatusPublished
<mark>Original language</mark>English

Abstract

John and Aris distinguish between forecase-accuracy metrics, which measure the errors resulting from a forecast method, and accuracy-implication metrics, which measure the achievement of the organization's stockholding and service-level goals. Both measurements are important. The correct choice of a forecast-accuracy metric depends on the organization's inventory rules, and on whether accuracy is to be gauged for a single item or across a range of items, The authors recommend specific accuracy and accuracy-implication metrics for each context. Copyright International Institute of Forecasters, 2006