Demand Forecasting and Inventory Control: A Computer Aided Learning Approach (Hardcover)

Presenting an up-to-date overview of demand forecasting, this comprehensive primer is an ideal resource for those who need in-depth information and hands-on training. Covering the latest developments in field techniques--and featuring software that includes helpful short-term forecasting models and inventory control scenarios--Demand Forecasting and Inventory Control includes complete details on: *Forecasting in stationary demand situations *Medium-term forecasting for growth and seasonality *Implementing the re-order level (ROL) policy *Using the Economic Order Quantity (EOQ) to establish replenishment quantity values *Interpreting service levels based on simple statistical concepts *Establishing the value of the review period and maximum stock level *Selecting the most appropriate inventory control policy *OPSCON--a computer-friendly learning package

forecasting is a crucial method for managing inventory control. It is an essential skill for all operations and manufacturing professionals, as well as those professionals in distribution and logistics. This practical reference offers an up-to-date and thoroughly accessible overview of this key concept, covering both theory and practice from current demand forecasting methods. The author, a seasoned expert in the field, provides complete details on the links between forecasts produced by analyzing demand data and the various methods by which this information--in conjunction with cost material on stocked items--is used to establish workable parameters for the most commonly used inventory control systems.

In Demand Forecasting and Inventory Control, Colin D. Lewis takes an in-depth look at the family of short-term forecasting models that are based on the exponentially weighted average and its many variants. With sample data that includes calculations necessary for hands-on applications, Lewis takes you step by step