Measuring the impact of asymmetric demand distributions on inventories

Article Abstract:

The effects of asymmetric demand distributions on inventories are analyzed using a simulation model. It is shown that the shape of demand significantly influences stock investments and that multi-modality and asymmetry can both have a positive or a negative impact on inventories, depending on the target service level faced by the firm as well as on the type of asymmetry. The complex relationship among inventories, skewness and service level targets are also demonstrated.

Inventory Control, Production Planning & Control, Production control, Production planning, Inventories, Demand (Economics)

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A simulation framework for forecasting uncertain lumpy demand

Article Abstract:

A study was conducted to analyze the behavior of methods forecasting uncertain lumpy demand at the master production scheduling level. In line with this, three forecasting techniques were examined. These include the exponentially weighted moving average, early sales and order overplanning. A framework was then developed to indicate the domain of applicability of each forecasting method based on the prevailing source of lumpiness in the market.

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Managing demand uncertainty through order overplanning

Article Abstract:

A new method has been developed for coping with the uncertainties associated with production management. The method, called order overplanning, consists of an articulate and coherent set of forecasting procedures, planning concepts and slack control strategies. It permits the prediction of future requirements by using previous information generated by each customer during the purchasing process prior to actual order placing.

Methods, Scheduling (Management)

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