by Don Johnston | Sep 10, 2016 | Forecasting, Inventory Management Basics, Replenishment
This article provides an overview of inventory management simulation and its use for testing algorithms. If you want to use a particular algorithm for demand forecasting or reordering then it is desirable to simulate the effects first in order to avoid unpleasant...
by Don Johnston | Jan 23, 2016 | Forecasting
Introduction If there is no evidence of trend or seasonal effects then forecasting using demand history alone usually simply involves estimation of the demand rate (mean demand per unit time). All of the algorithms mentioned in this article can be used as a basis for...
by Don Johnston | Nov 14, 2015 | Forecasting
Introduction In order to determine when and how much of an item to order, it is necessary to have a forecast of customer demands. The human brain is not as good as appropriate statistical analysis at interpreting statistical data. Forecasting of customer demands using...
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