Demand forecasting and inventory control : a computer aided learning approach

This practical book covers the forecasting- and inventory control methods used in commercial, retail and manufacturing companies. Colin Lewis explains the theory and practice of current demand forecasting methods, the links between forecasts produced as a result of analysing demand data and the various methods by which this information, together with cost information on stocked items, is used to establish the controlling parameters of the most commonly used inventory control systems. The demand forecasting section of the book concentrates on the family of short-term forecasting models based on the exponentially weighted average and its many variants and also a group of medium-term forecasting models based on a time series, curve fitting approach. The inventory control sections investigate the re-order level policy and re-order cycle policy and indicate how these two processes can be operated at minimum cost while offering a high level of customer service. Covers both the theory and practice of current demand forecasting methods Is published in association with The Institute of Operations Management. Read more... Content: Copyright , Page iv Dedication , Page v Preface , Pages xi-xii , Colin Lewis Chapter 1 - Demand forecasting and inventory control , Pages 3-20 Chapter 2 - Short-term forecasting for stationary demand situations , Pages 21-43 Chapter 3 - Short-term forecasting for growth and seasonality , Pages 44-53 Chapter 4 - Medium-term forecasting for growth and seasonality , Pages 54-67 Chapter 5 - The essential links between forecasting and inventory control , Pages 68-77 Chapter 6 - Establishing the value of the re-order level , Pages 81-93 Chapter 7 - Establishing the size of the replenishment order , Pages 94-107 Chapter 8 - Examining the relationship between the re-order level and the replenishment quantity , Pages 108-116 Chapter 9 - Establishing the value of the review period and maximum stock level , Pages 119-129 Chapter 10 - Selecting the most appropriate inventory control policy , Pages 133-143 Appendix A - The OPSCON package , Pages 144-151 Appendix B - Simplification of exponentially weighted average formula , Page 152 Appendix C - Selected values of normal variable, u , Page 153 References , Page 154 Index , Pages 155-157 A practical guide to the forecasting and inventory control methods used in commercial, retail and manufacturing companies. explains the theory and practice of demand forecasting methods and the links between forecasts produced as a result of analyzing demand data.