This paper is concerned with identifying an effective method for forecasting the lead time demand of slow-moving inventories. Particular emphasis is placed on prediction distributions instead of point predictions alone. It is also placed on methods which work with small samples as well as large...

We explore a base-stock system with backlogging where the demand process is a compound renewal process and the compound element is a delayed geometric distribution. For this setting it is proven in [4] that the long-run average service measures order fill rate (OFR) and volume fill rate (VFR)...

We describe the development of a framework to compute the optimal inventory policy for <p> a large spare-parts’ distribution centre operation in the RA division of the Danfoss Group <p> in Denmark. The RA division distributes spare parts worldwide for cooling and A/C <p> systems. The warehouse...</p></p></p>

We derive a closed-form cost expression for an (R,s,nQ) inventory control policy where all replenishment orders have a constant lead-time, unfilled demand is backlogged and inter-arrival times of order requests are generalized Erlang distributed

We show that well-known textbook formulae for determining the optimal base stock of the inventory system with continuous review and constant lead time can easily be extended to the case with periodic review and stochastic, sequential lead times. The provided performance measures and conditions...

The order fill rate is less commonly used than the volume fill rate (most often just denoted fill rate) as a performance measure for inventory control systems. However, in settings where the focus is on filling customer orders rather than total quantities, the order fill rate should be the...

In this note we comment on whether the cost rate function of Model 2 of Rosling (2002) is exact

Organizations with large-scale inventory systems typically have a large proportion of items for which demand is intermittent and low volume. We examine different approaches to forecasting for such products, paying particular attention to the need for inventory planning over a multi-period...

Exponential smoothing is often used to forecast lead-time demand for inventory control. In this paper, formulae are provided for calculating means and variances of lead-time demand for a wide variety of exponential smoothing methods. A feature of many of the formulae is that variances, as well...

Adaptations of simple exponential smoothing are presented that aim to unify the task of forecasting demand for both slow and fast moving inventories. A feature of the adaptations is that they are designed to ensure that the resulting prediction distributions have only a nonnegative domain. A...