Forecasting Sales of Slow and Fast Moving Inventories
Ralph Snyder ()
No 7/99, Monash Econometrics and Business Statistics Working Papers from Monash University, Department of Econometrics and Business Statistics
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)
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Journal Article: Forecasting sales of slow and fast moving inventories (2002)
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