Name
Abstract | ||
|---|---|---|
•Traditional procedures for estimating the lead time demand variance are flawed.•As a result, these procedures lead to safety stocks that are too low.•We present corrected procedures for constant lead times and a stationary i.i.d. demand model.•In doing so we consider the uncertainty associated with estimating both the mean and the variance of the demand.•We find that traditional procedures may lead to safety stocks that are up to 30 percent too low. |
Year | DOI | Venue |
|---|---|---|
2017 | 10.1016/j.ejor.2016.06.035 | European Journal of Operational Research |
Keywords | Field | DocType |
Demand forecasting,Inventory control,Safety stock,Forecast uncertainty | Exponential smoothing,Safety stock,Demand forecasting,Reorder point,Inventory control,Lead time,Market demand schedule,Moving average,Operations management,Mathematics | Journal |
Volume | Issue | ISSN |
256 | 2 | 0377-2217 |
Citations | PageRank | References |
6 | 0.46 | 8 |
Authors | ||
3 | ||
Name | Order | Citations | PageRank |
|---|---|---|---|
| Dennis Prak | 1 | 7 | 1.18 |
| Ruud H. Teunter | 2 | 690 | 54.67 |
| Aris A. Syntetos | 3 | 166 | 14.78 |