Managing intermittent demand / Torben Engelmeyer.
2016
HF5386
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Details
Title
Managing intermittent demand / Torben Engelmeyer.
Author
Engelmeyer, Torben, author.
ISBN
9783658140625 (electronic book)
3658140623 (electronic book)
9783658140618
3658140623 (electronic book)
9783658140618
Published
Fachmedien : Springer Gabler, 2016.
Language
English
Description
1 online resource.
Call Number
HF5386
Dewey Decimal Classification
650
Summary
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. Contents Classification Approaches to Identify Intermittent Demand Series Consistent Forecast-Based Inventory Model Extensive Comparison of the Inventory Performance Among Different Forecast/Inventory Model Combinations Target Group Students and researchers interested in business analytics and operations management Inventory managers and supply chain experts The Author Dr. Torben Engelmeyer works as a research assistant at the chair of International Economics - University of Wuppertal, Germany.
Bibliography, etc. Note
Includes bibliographical references.
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Source of Description
Online resource; title from PDF title page (viewed May 18, 2016).
Series
Springer Gabler research.
Available in Other Form
Managing Intermittent Demand
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Table of Contents
Classification Approaches to Identify Intermittent Demand Series
Consistent Forecast-Based Inventory Model
Extensive Comparison of the Inventory Performance Among Different Forecast/Inventory Model Combinations.
Consistent Forecast-Based Inventory Model
Extensive Comparison of the Inventory Performance Among Different Forecast/Inventory Model Combinations.