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Demand Forecasting for Inventory Control

  • Nick T.┬áThomopoulos

Table of contents

  1. Front Matter
    Pages i-xiii
  2. Nick T. Thomopoulos
    Pages 1-10
  3. Nick T. Thomopoulos
    Pages 11-21
  4. Nick T. Thomopoulos
    Pages 23-39
  5. Nick T. Thomopoulos
    Pages 41-58
  6. Nick T. Thomopoulos
    Pages 59-69
  7. Nick T. Thomopoulos
    Pages 71-87
  8. Nick T. Thomopoulos
    Pages 89-106
  9. Nick T. Thomopoulos
    Pages 107-117
  10. Nick T. Thomopoulos
    Pages 119-136
  11. Nick T. Thomopoulos
    Pages 137-148
  12. Nick T. Thomopoulos
    Pages 149-163
  13. Nick T. Thomopoulos
    Pages 165-178
  14. Back Matter
    Pages 179-183

About this book

Introduction

This book describes the methods used to forecast the demands at inventory holding locations. The methods are proven, practical and doable for most applications, and pertain to demand patterns that are horizontal, trending, seasonal, promotion and multi-sku. The forecasting methods include regression, moving averages, discounting, smoothing, two-stage forecasts, dampening forecasts, advance demand forecasts, initial forecasts, all time forecasts, top-down, bottom-up, raw and integer forecasts, Also described are demand history, demand profile, forecast error, coefficient of variation, forecast sensitivity and filtering outliers. The book shows how the forecasts with the standard normal, partial normal and truncated normal distributions are used to generate the safety stock for the availability and the percent fill customer service methods. The material presents topics that people want and should know in the work place. The presentation is easy to read for students and practitioners; there is little need to delve into difficult mathematical relationships, and numerical examples are presented throughout to guide the reader on applications. Practitioners will be able to apply the methods learned to the systems in their locations, and the typical worker will want the book on their bookshelf for reference.  The potential market is vast.  It includes everyone in professional organizations like APICS, DSI and INFORMS; MBA graduates, people in industry, and students in management science, business and industrial engineering.

Keywords

Demand Forecasting Demand History Horizontal Forecasts Inventory Control Seasonal Forecasts Trend Forecasts

Authors and affiliations

  • Nick T.┬áThomopoulos
    • 1
  1. 1.Stuart School of BusinessIllinois Institute of TechnologyBurr RidgeUSA

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-319-11976-2
  • Copyright Information Springer International Publishing Switzerland 2015
  • Publisher Name Springer, Cham
  • eBook Packages Business and Economics
  • Print ISBN 978-3-319-11975-5
  • Online ISBN 978-3-319-11976-2
  • Buy this book on publisher's site
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