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- W4245722475 abstract "This chapter shows that the management of intermittent demand items is an important task for many organisations. It discusses the major inventory replenishment policies and their appropriateness for intermittent demand items. The interface between forecasting and stock control has been rather neglected in the academic literature although it is vital in real-world inventory applications. Before discussing the integration of forecasting and inventory control for intermittent demand items, a distinction needs to be made between the inventory management practices required for dependent and independent demand items. The chapter considers the relationship between recording of transactions and review of inventory and explains why ‘true’ continuous inventory review is less likely to be encountered in practice than periodic review. It provides an overview of stock control policies, arguing for the consideration of periodic formulations for the management of intermittent demand items." @default.
- W4245722475 created "2022-05-12" @default.
- W4245722475 date "2021-05-28" @default.
- W4245722475 modified "2023-10-17" @default.
- W4245722475 title "Inventory Management and Forecasting" @default.
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- W4245722475 doi "https://doi.org/10.1002/9781119135289.ch2" @default.
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