التفاصيل البيبلوغرافية
| العنوان: |
Data‐driven inventory forecasting in periodic‐review inventory systems adjusted with a fill rate requirement. |
| المؤلفون: |
Bruzda, Joanna1 (AUTHOR) joanna.bruzda@uni.torun.pl, Abbasi, Babak2 (AUTHOR), Urbańczyk, Tomasz1 (AUTHOR) |
| المصدر: |
Decision Sciences. Aug2024, p1. 15p. 2 Illustrations. |
| مصطلحات موضوعية: |
*INVENTORY control, *INVENTORY costs, *OPPORTUNITY costs, *INVENTORIES, DYNAMIC models, DEMAND forecasting |
| مستخلص: |
We propose an integrated forecasting and optimization framework for base stock decisions in periodic‐review inventory systems subject to requirements for these systems' infinite‐horizon fill rates as agreed service levels. We provide a detailed discussion of the conditions necessary for the uniqueness of the required optimal solutions, examine some properties of our data‐driven computational procedure, and address the task of directly modeling base stock levels with the help of chosen semiparametric nonlinear dynamic models. To demonstrate the effectiveness of our strategy, we evaluate it on real data sets, finding that it achieves fill rates close to the target values and low implicit inventory costs. Our empirical assessment also highlights the usefulness of generalized autoregressive score (GAS) models for inventory planning based on medium‐sized historical demand samples. These models can be recommended for applications with nominal fill rates of 90–95%, but also for careful so‐called “focus forecasting” when required service levels are as high as 99–99.9%. [ABSTRACT FROM AUTHOR] |
|
Copyright of Decision Sciences is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.) |
| قاعدة البيانات: |
Business Source Index |