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 - On the stock control performance of intermittent demand estimators
AU - Syntetos, Aris A.
AU - Boylan, John
N1 - Accepted 19/04/2005
PY - 2006/9/1
Y1 - 2006/9/1
N2 - The purpose of this paper is to assess the empirical stock control performance of intermittent demand estimation procedures. The forecasting methods considered are the simple moving average, single exponential smoothing, Croston's method and a new method recently developed by the authors of this paper. We first discuss the nature of the empirical demand data set (3000 stock keeping units) and we specify the stock control model to be used for experimentation purposes. Performance measures are then selected to report customer service level and stock volume differences. The out-of-sample empirical comparison results demonstrate the superior stock control performance of the new intermittent demand forecasting method and enable insights to be gained into the empirical utility of the other estimators.
AB - The purpose of this paper is to assess the empirical stock control performance of intermittent demand estimation procedures. The forecasting methods considered are the simple moving average, single exponential smoothing, Croston's method and a new method recently developed by the authors of this paper. We first discuss the nature of the empirical demand data set (3000 stock keeping units) and we specify the stock control model to be used for experimentation purposes. Performance measures are then selected to report customer service level and stock volume differences. The out-of-sample empirical comparison results demonstrate the superior stock control performance of the new intermittent demand forecasting method and enable insights to be gained into the empirical utility of the other estimators.
KW - Intermittent demand
KW - Forecasting
KW - Stock control
U2 - 10.1016/j.ijpe.2005.04.004
DO - 10.1016/j.ijpe.2005.04.004
M3 - Journal article
VL - 103
SP - 36
EP - 47
JO - International Journal of Production Economics
JF - International Journal of Production Economics
SN - 0925-5273
IS - 1
ER -