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Tag: Forecasting

10 ways to reduce inventory and improve service – part 2

August 30th, 2007 | By: Martin Arrand

This is the second part of a two-part post. Part 1 was posted last week. 6. Optimise stock over the range The same investment in stock can produce better or worse levels of availability. This is intuitively obvious if we think of some reductio ad absurdum examples: all of our stock invested in a single […]

10 ways to reduce inventory and improve service – part 1

August 23rd, 2007 | By: Martin Arrand

This was prompted by a question on the CILT’s eDiscussion forum. I thought the topic deserved a little more room for explanation, so here are my top ten tactics for simultaneous inventory reduction and service improvement. I have divided this into two posts – five tactics today, the next five coming up in part 2. […]

Wallace Hopp’s Supply Chain Science NO LONGER available as free download (sorry)

July 20th, 2007 | By: Martin Arrand

UPDATE 20/03/08: Since I wrote this post, Hopp has published a print version of the book with McGraw-Hill and moved from Northwestern to the Ross School of Business at the University of Michigan. As a result, the download that was available free from the Northwestern website is no longer available. Apologies to anyone who has […]

Forecasting intermittent demand for spare parts – review of JORS paper

January 26th, 2007 | By: Martin Arrand

I have just read a paper published in the Jan 07 edition of the Journal of the Operational Research Society (JORS) entitled “A new approach of forecasting intermittent demand for spare parts inventories in the process industries”. The authors – ZS Hua, B Zhang, J Yang and DS Tang from the University of Science and […]

Simple demonstration of slow and fast SKU forecasting

January 5th, 2007 | By: Martin Arrand

In December 2006 I presented seminar for the CILT on Supply Chain Inventory Management, and this very simple demonstration comes from that presentation. It is designed to highlight the different levels of forecast accuracy that we can achieve for slow and fast SKUs. (As I mentioned in my post from 29 Nov 06, estimating forecast […]

Best forecasting method for your supply chain?

November 29th, 2006 | By: Martin Arrand

Let’s face it, we never think our forecasts are accurate enough. We suspect there must be a better way out there. Often this is down to the simple fact that forecasting is never precise. How can it be? I often think that one of the most important eureka moments for a supply chain professional is […]