REPLACEMENT PARTS MANAGEMENT: THE VALUE OF INFORMATION
Exponential smoothing (ES) and weighted moving average (WMA) are the predominant methods used to predict future demand for replacement parts. They require simple calculations and make use of information readily available. By gathering more information and doing additional calculations, more accurate...
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| Veröffentlicht in: | Journal of business logistics 2001-09, Vol.22 (2), p.149-164 |
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| container_title | Journal of business logistics |
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| creator | Tibben-Lembke, Ronald S. Amato, Henry N. |
| description | Exponential smoothing (ES) and weighted moving average (WMA) are the predominant methods used to predict future demand for replacement parts. They require simple calculations and make use of information readily available. By gathering more information and doing additional calculations, more accurate forecasts can be developed. However, the cost of collecting the additional data could exceed the inventory cost savings from the better demand forecast. This paper presents a straightforward method for determining when the benefits of a more complex forecasting method outweigh the total costs required to use the method. |
| doi_str_mv | 10.1002/j.2158-1592.2001.tb00008.x |
| format | Article |
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| identifier | ISSN: 0735-3766 |
| ispartof | Journal of business logistics, 2001-09, Vol.22 (2), p.149-164 |
| issn | 0735-3766 2158-1592 |
| language | eng |
| recordid | cdi_proquest_journals_212597213 |
| source | EBSCOhost Business Source Complete; Access via Wiley Online Library |
| subjects | Component parts Cost control Demand Failure Forecasting Inventory Inventory control Inventory management Laboratories Methods Probability distribution Production planning Repair & maintenance Software Standard deviation Studies |
| title | REPLACEMENT PARTS MANAGEMENT: THE VALUE OF INFORMATION |
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