Demand History

Nick T. Thomopoulos ()
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Nick T. Thomopoulos: Illinois Institute of Technology

Chapter 2 in Demand Forecasting for Inventory Control, 2015, pp 11-21 from Springer

Abstract: Abstract Forecasts Forecasts are necessary for each part in every stocking location as they are used in the stocking decisions on when to replenish Replenish the stock and how much. The forecasts Forecasts are typically revised each month as the new monthly demand entry Demand entry becomes available. The forecasts are based on the history flow of the demands over the past months. The more accurate the demand history Demand history , the better the forecasts. The typical inventory Inventory system saves anywhere from 12 to 36 months of demand history.

Keywords: Forecast Error; Distribution Center; Demand Pattern; Part Number; Annual Demand (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1007/978-3-319-11976-2_2

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