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Demand forecasting adjustments for service-level achievement
- Source :
- IMA Journal of Management Mathematics. 19:175-192
- Publication Year :
- 2008
- Publisher :
- Oxford University Press (OUP), 2008.
-
Abstract
- Demand forecasting and stock control are traditionally examined as independent of each other. Even though this weakness has been highlighted in the academic literature, little empirical work has been conducted on forecasting adjustments addressing the interaction between forecasting and stock control. In this paper, the relevant literature is critically reviewed. Subsequently, the empirical performance of some modifications and adjustments, on slow-moving items, is examined in detail. The data set consists of the individual demand histories of 753 intermittent line items from the Royal Air Force (UK). Overall, the results indicate that there is a scope for improving the performance of parametric stock control systems, and adjustments are indeed required in order to account for the interaction between forecasting and stock control.
- Subjects :
- Empirical work
Scope (project management)
Applied Mathematics
Strategy and Management
Management Science and Operations Research
Demand forecasting
Management Information Systems
Order (exchange)
Modeling and Simulation
Service level
Economics
Econometrics
Operations management
Stock control
General Economics, Econometrics and Finance
Parametric statistics
Subjects
Details
- ISSN :
- 14716798 and 1471678X
- Volume :
- 19
- Database :
- OpenAIRE
- Journal :
- IMA Journal of Management Mathematics
- Accession number :
- edsair.doi...........d89263bed761eb4775d74fc2b565ad7f