Skip to main content
SpringerLink
Log in

Demand Forecasting for Inventory Control

  • Book
  • © 2015

Overview

Authors:
  1. Nick T. Thomopoulos

    1. Stuart School of Business, Illinois Institute of Technology, Burr Ridge, USA

    View author publications

    You can also search for this author in PubMed   Google Scholar

  • Concise monograph brings field completely up to date

  • Covers all the fundamentals of the subject, without heavy math

  • Author is among the most prominent names in the field

  • Includes supplementary material: sn.pub/extras

This is a preview of subscription content, log in via an institution to check access.

Access this book

Log in via an institution
eBook USD 129.00
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book USD 169.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book USD 169.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Other ways to access

Licence this eBook for your library

Institutional subscriptions

Table of contents (12 chapters)

  1. Front Matter

    Pages i-xiii
    Download chapter PDF

  2. Demand Forecasting for Inventory Control

    • Nick T. Thomopoulos
    Pages 1-10

  3. Demand History

    • Nick T. Thomopoulos
    Pages 11-21

  4. Horizontal Forecasts

    • Nick T. Thomopoulos
    Pages 23-39

  5. Trend Forecasts

    • Nick T. Thomopoulos
    Pages 41-58

  6. Seasonal Forecasts

    • Nick T. Thomopoulos
    Pages 59-69

  7. Promotion Forecasts

    • Nick T. Thomopoulos
    Pages 71-87

  8. Multi-SKU Forecasts

    • Nick T. Thomopoulos
    Pages 89-106

  9. Forecast Sensitivity

    • Nick T. Thomopoulos
    Pages 107-117

  10. Filtering Outliers

    • Nick T. Thomopoulos
    Pages 119-136

  11. Standard Normal and Truncated Normal Distributions

    • Nick T. Thomopoulos
    Pages 137-148

  12. Safety Stock

    • Nick T. Thomopoulos
    Pages 149-163

  13. Auxiliary Forecasts

    • Nick T. Thomopoulos
    Pages 165-178

  14. Back Matter

    Pages 179-183
    Download chapter PDF
Back to top

Keywords

About this book

This book describes the methods used to forecast the demands at inventory holding locations. The methods are proven, practical and doable for most applications, and pertain to demand patterns that are horizontal, trending, seasonal, promotion and multi-sku. The forecasting methods include regression, moving averages, discounting, smoothing, two-stage forecasts, dampening forecasts, advance demand forecasts, initial forecasts, all time forecasts, top-down, bottom-up, raw and integer forecasts, Also described are demand history, demand profile, forecast error, coefficient of variation, forecast sensitivity and filtering outliers. The book shows how the forecasts with the standard normal, partial normal and truncated normal distributions are used to generate the safety stock for the availability and the percent fill customer service methods. The material presents topics that people want and should know in the work place. The presentation is easy to read for students and practitioners; there is little need to delve into difficult mathematical relationships, and numerical examples are presented throughout to guide the reader on applications. Practitioners will be able to apply the methods learned to the systems in their locations, and the typical worker will want the book on their bookshelf for reference. The potential market is vast. It includes everyone in professional organizations like APICS, DSI and INFORMS; MBA graduates, people in industry, and students in management science, business and industrial engineering.

Authors and Affiliations

  • Stuart School of Business, Illinois Institute of Technology, Burr Ridge, USA

    Nick T. Thomopoulos

About the author

Nick T. Thomopoulos is professor emeritus at the Illinois Institute of Technology. He is the author of nine books, including: Applied Forecasting Methods, Prentice Hall, Strategic Inventory Management and Planning, Hitchcock, Essentials of Monte Carlo Simulation, Springer, and Production, Inventory and the Supply Chain, Atlantic Publishers. He has over 100 publications and presentations to his credit, and for many years, he has consulted in a wide variety of industries in the United States, Europe and Asia. Nick received honors over the years, such as the Rist Prize from the Military Operations Research Society, the Distinguished Professor Award in Bangkok, Thailand from the IIT Asian Alumni Association, and the Professional Achievement Award from the IIT Alumni Association.

Bibliographic Information

  • Book Title: Demand Forecasting for Inventory Control

  • Authors: Nick T. Thomopoulos

  • DOI: https://doi.org/10.1007/978-3-319-11976-2

  • Publisher: Springer Cham

  • eBook Packages: Business and Economics, Business and Management (R0)

  • Copyright Information: Springer International Publishing Switzerland 2015

  • Hardcover ISBN: 978-3-319-11975-5Published: 17 December 2014

  • Softcover ISBN: 978-3-319-38567-9Published: 27 September 2016

  • eBook ISBN: 978-3-319-11976-2Published: 04 December 2014

  • Edition Number: 1

  • Number of Pages: XIII, 183

  • Number of Illustrations: 28 illustrations in colour

  • Topics: Operations Research/Decision Theory, Operations Management

Publish with us

Policies and ethics

Back to top

Search

Navigation