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Demand forecasting adjustments for service-level achievement

Syntetos, Argyrios and Boylan, John E. 2008. Demand forecasting adjustments for service-level achievement. IMA Journal of Management Mathematics 19 (2) , pp. 175-192. 10.1093/imaman/dpm034

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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.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Subjects: H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HE Transportation and Communications
Uncontrolled Keywords: customer service level; intermittent demand; forecasting; stock control
Publisher: Oxford University Press
ISSN: 1471-678X
Last Modified: 04 Jun 2017 04:38
URI: http://orca.cf.ac.uk/id/eprint/42071

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