Forecasting Sales of Slow and Fast Moving Inventories

Ralph David Snyder ()

No 7/99, Monash Econometrics and Business Statistics Working Papers from Monash University, Department of Econometrics and Business Statistics

Abstract: Adaptations of simple exponential smoothing are presented that aim to unify the task of forecasting demand for both slow and fast moving inventories. A feature of the adaptations is that they are designed to ensure that the resulting prediction distributions have only a nonnegative domain. A parametric bootstrap approach is proposed for generating empirical approximations for the so-called lead-time demand distribution, something required for inventory control calculations. The proposed methods are illustrated and their performance compared on real demand data for car parts.

Keywords: demand forecasting; inventory control; simulation; parametric bootstrapping; time series analysis. (search for similar items in EconPapers)
JEL-codes: E22 D84 D20 (search for similar items in EconPapers)
Date: Written 1999-06
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Related works:
Journal Article: Forecasting sales of slow and fast moving inventories (2002)
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