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portada Managing Intermittent Demand
Type
Physical Book
Publisher
Author
Language
English
Pages
172
Format
Paperback
ISBN13
9783658140618
Edition No.
1

Managing Intermittent Demand

Torben Engelmeyer (Author) · Springer Gabler · Paperback

Managing Intermittent Demand - Torben Engelmeyer

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Synopsis "Managing Intermittent Demand"

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

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