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Forecasting for inventory planning: a 50-year review

Syntetos, A, Boylan, JE and Disney, S 2009, 'Forecasting for inventory planning: a 50-year review' , Journal of the Operational Research Society, 60 (SI) , S149-S160.

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Abstract

Forecasting and planning for inventory management has received considerable attention from the Operational Research (OR) community over the last 50 years because of its implications for decision making, both at the strategic level of an organization and at the operational level. Many influential contributions have been made in this area, reflecting different perspectives that have evolved in divergent strands of the literature, namely: system dynamics, control theory and forecasting theory (both statistical and judgemental). Although this pluralism is healthy in terms of knowledge advancement, it also signifies the fragmentation of the OR discipline and the lack of cross-fertilization of ideas to develop more comprehensive approaches towards the resolution of the same issues. In this paper, the relevant literature is reviewed and synthesized to promote some convergence between these different approaches to inventory forecasting and planning. The review concludes with an inter-disciplinary agenda for further research.

Item Type: Article
Themes: Subjects outside of the University Themes
Schools: Colleges and Schools > College of Business & Law > Salford Business School > Operations and Information Management
Journal or Publication Title: Journal of the Operational Research Society
Publisher: Palgrave Macmillan
Refereed: Yes
ISSN: 0160-5682
Funders: Engineering and Physical Sciences Research Council (EPSRC)
Depositing User: Professor Aris Syntetos
Date Deposited: 13 Oct 2011 10:49
Last Modified: 28 Jul 2015 17:37
URI: http://usir.salford.ac.uk/id/eprint/18297

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