Quantile forecasting in operational planning and inventory management – an initial empirical verification

Joanna Bruzda

Dynamic Econometric Models, 2016, vol. 16, 5-20

Abstract: In the paper we present our initial results of an empirical verification of different methodologies of quantile forecasting used in operational management to calculate the re-order point or order-up-to level as well as the optimal order quantity according to the newsvendor model. The comparison encompasses 26 procedures including quantile regression, the basic bootstrap method and popular textbook formulas. Our results, obtained on the base of 30 time series concerning such diversified phenomena as supermarket sales, passenger transport and water and gas demand, point to the usefulness of regression medians, regression quantiles, bootstrap methods a 19 19nd the pble in the SAP ERP system.

Keywords: LINLIN loss; quantile forecasting; quantile regression; re-order point; theta method (search for similar items in EconPapers)
JEL-codes: C21 C44 C53 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:cpn:umkdem:v:16:y:2016:p:5-20

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