Reducing inventory system costs by using robust demand estimators
Management Science
Evaluating forecast performance in an inventory control system
Management Science
Designing And Managing The Supply Chain
Designing And Managing The Supply Chain
The effect of customer segmentation on an inventory system in the presence of supply disruptions
Winter Simulation Conference
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This paper presents an object oriented framework that facilitates modeling inventory systems whose policy updating is driven by forecast estimates. In an inventory system, the forecast estimates and the forecast error measures are used to set the inventory policy. A simulation approach can address questions regarding the choice of the forecasting technique and the frequency of updating the policy, especially in non-stationary demand scenarios. This paper discusses how the framework can be used to develop simulation models through which these questions can be addressed. In addition, two examples illustrate how to use the framework and how to analyze supply chains with forecast based policy updating.