The Effects of Demand-Forecast Fluctuations on Customer Service and Inventory Cost When Demand is Lumpy |
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Authors: | Richard B Watson |
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Institution: | 1.Department of Defence,Central Studies Establishment,Canberra,Australia |
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Abstract: | This paper examines the interactions between the demand forecasting and reordering subsystems in inventory management. Simulation is used to study the average discrepancy between a desired customer service level and that actually achieved, and the increase in average annual inventory cost resulting from fluctuations in the forecast demand parameters of several lumpy demand patterns. |
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