Periodic control of intermittent demand items: theory and empirical analysis
Syntetos, A, Babai, MZ, Dallery, Y and Teunter, R 2009, 'Periodic control of intermittent demand items: theory and empirical analysis' , Journal of the Operational Research Society, 60 (5) , pp. 611-618.
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In this paper we propose a modification to the standard forecasting, periodic order-up-to-level inventory control approach to dealing with intermittent demand items, when the lead-time length is shorter than the average interdemand interval. In particular, we develop an approach that relies upon the employment of separate estimates of the inter-demand intervals and demand sizes, when demand occurs, directly for stock control purposes rather than first estimating mean demand and then feeding the results in the stock control procedure. The empirical performance of our approach is assessed by means of analysis on a large demand data set from the Royal Air Force (RAF, UK). Our work allows insights to be gained on the interactions between forecasting and stock control as well as on demand categorization-related issues for forecasting and inventory management purposes.
|Uncontrolled Keywords:||Intermittent demand, forecasting, periodic stock control, military logistics, lead-time|
|Themes:||Subjects outside of the University Themes|
|Schools:||Schools > College of Business & Law > Salford Business School > Business and Management Research Centre|
|Journal or Publication Title:||Journal of the Operational Research Society|
|Funders:||Engineering and Physical Sciences Research Council (EPSRC)|
|Depositing User:||Professor Aris Syntetos|
|Date Deposited:||13 Oct 2011 10:24|
|Last Modified:||29 Oct 2015 00:48|
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