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.
General
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