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Smoothing and adjustments of demand forecasts for inventory control

Research output: Contribution to conference - Without ISBN/ISSN Otherpeer-review

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Publication date17/05/2006
Number of pages6
Pages173-178
<mark>Original language</mark>English
Event12th IFAC Symposium on Information Control Problems in Manufacturing - Ecole des Mines, Saint Etienne, France
Duration: 17/05/200619/05/2006

Conference

Conference12th IFAC Symposium on Information Control Problems in Manufacturing
CountryFrance
CitySaint Etienne
Period17/05/0619/05/06

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.

Bibliographic note

ISBN 9783902661043