Managing Intermittent Demand Engelmeyer TorbenPaperback
Managing Intermittent Demand Engelmeyer TorbenPaperback This work aims to increase the service level and to reduce the inventory costs by combining the forecast and inventory model into one…
Specifikacia Managing Intermittent Demand Engelmeyer TorbenPaperback
Managing Intermittent Demand Engelmeyer TorbenPaperback
This work aims to increase the service level and to reduce the inventory costs by combining the forecast and inventory model into one consistent forecast-based inventory model. The developed algorithms can be used to identify, estimate, and predict the demand as well as optimize the inventory decision of intermittent demand series. This new model is based on the prediction of the future probability distribution by assuming an integer-valued autoregressive process as demand process.
By using the consistent approach, the mean inventory level is lowered whereas the service level is increased. In an extensive simulation study the new model is compared with a wide range of conventional forecast/inventory model combinations. Additionally, a modern multi-criteria inventory classification scheme is presented to distinguish different demand series clusters.§
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