Demand Forecasting for Inventory Control / by Nick T. Thomopoulos.

Format:

Book

Author/Creator:

Thomopoulos, Nicholas T., Author.

Language:

English

Subjects (All):

Operations research.

Decision making.

Production management.

Operations Research/Decision Theory.

Operations Management.

Local Subjects:

Operations Research/Decision Theory.

Operations Management.

Physical Description:

1 online resource (188 p.)

Edition:

1st ed. 2015.

Place of Publication:

Cham : Springer International Publishing : Imprint: Springer, 2015.

Language Note:

English

Summary:

This book describes the methods used to forecast the demands at inventory holding locations. The methods are proven, practical and doable for most applications, and pertain to demand patterns that are horizontal, trending, seasonal, promotion and multi-sku. The forecasting methods include regression, moving averages, discounting, smoothing, two-stage forecasts, dampening forecasts, advance demand forecasts, initial forecasts, all time forecasts, top-down, bottom-up, raw and integer forecasts, Also described are demand history, demand profile, forecast error, coefficient of variation, forecast sensitivity and filtering outliers. The book shows how the forecasts with the standard normal, partial normal and truncated normal distributions are used to generate the safety stock for the availability and the percent fill customer service methods. The material presents topics that people want and should know in the work place. The presentation is easy to read for students and practitioners; there is little need to delve into difficult mathematical relationships, and numerical examples are presented throughout to guide the reader on applications. Practitioners will be able to apply the methods learned to the systems in their locations, and the typical worker will want the book on their bookshelf for reference. The potential market is vast. It includes everyone in professional organizations like APICS, DSI and INFORMS; MBA graduates, people in industry, and students in management science, business and industrial engineering.

Contents:

Introduction

Demand History

Horizontal Forecasts

Trend Forecasts

Seasonal Forecasts

Promotion Forecasts

Multi SKU Forecasts

Forecast Sensitivity

Filtering Outliers

Standard Normal and Truncated Normal Distributions

Safety Stock

Auxiliary Forecasts.

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

ISBN:

3-319-11976-1

OCLC:

897810282