Research output: Contribution to conference - Without ISBN/ISSN › Other › peer-review
Research output: Contribution to conference - Without ISBN/ISSN › Other › peer-review
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TY - CONF
T1 - Smoothing and adjustments of demand forecasts for inventory control
AU - Syntetos, Aris A.
AU - Boylan, John
N1 - ISBN 9783902661043
PY - 2006/5/17
Y1 - 2006/5/17
N2 - 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.
AB - 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.
KW - inventory control
KW - estimators
KW - corrective actions
KW - Monte Carlo simulation
U2 - 10.3182/20060517-3-FR-2903.00104
DO - 10.3182/20060517-3-FR-2903.00104
M3 - Other
SP - 173
EP - 178
T2 - 12th IFAC Symposium on Information Control Problems in Manufacturing
Y2 - 17 May 2006 through 19 May 2006
ER -