Details
| Translated title of the contribution | Inventory behavior under forecast uncertainty with dynamic order policies |
|---|---|
| Original language | German |
| Pages (from-to) | 308-312 |
| Number of pages | 5 |
| Journal | ZWF Zeitschrift fuer Wirtschaftlichen Fabrikbetrieb |
| Volume | 116 |
| Issue number | 5 |
| Early online date | 19 May 2021 |
| Publication status | Published - 31 May 2021 |
| Externally published | Yes |
Abstract
In the production of inventory goods, manufacturing companies face uncertain customer demand. To counter uncertainties, an increased inventory is necessary to handle the uncertain demand. The costs are influenced by the ordering behavior given the forecast uncertainty. Ordering behavior is largely determined by the order policy. Therefore, the influence of forecast uncertainty and order policy on the resulting inventory costs was investigated by means of sensitivity analyses. Accordingly, forecast uncertainties require larger inventories under a fixed order cycle than under fixed order quantity.
ASJC Scopus subject areas
- Engineering(all)
- Business, Management and Accounting(all)
- Strategy and Management
- Decision Sciences(all)
- Management Science and Operations Research
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In: ZWF Zeitschrift fuer Wirtschaftlichen Fabrikbetrieb, Vol. 116, No. 5, 31.05.2021, p. 308-312.
Research output: Contribution to journal › Article › Research › peer review
}
TY - JOUR
T1 - Lagerverhalten unter prognoseunsicherheit mit dynamischen bestellpolitiken
AU - Fritzsch, Benjamin
AU - Müller, Domenic
AU - Nitsche, Andreas
AU - Nyhuis, Peter
PY - 2021/5/31
Y1 - 2021/5/31
N2 - In the production of inventory goods, manufacturing companies face uncertain customer demand. To counter uncertainties, an increased inventory is necessary to handle the uncertain demand. The costs are influenced by the ordering behavior given the forecast uncertainty. Ordering behavior is largely determined by the order policy. Therefore, the influence of forecast uncertainty and order policy on the resulting inventory costs was investigated by means of sensitivity analyses. Accordingly, forecast uncertainties require larger inventories under a fixed order cycle than under fixed order quantity.
AB - In the production of inventory goods, manufacturing companies face uncertain customer demand. To counter uncertainties, an increased inventory is necessary to handle the uncertain demand. The costs are influenced by the ordering behavior given the forecast uncertainty. Ordering behavior is largely determined by the order policy. Therefore, the influence of forecast uncertainty and order policy on the resulting inventory costs was investigated by means of sensitivity analyses. Accordingly, forecast uncertainties require larger inventories under a fixed order cycle than under fixed order quantity.
KW - Forecast error
KW - Inventory
KW - Inventory policy
KW - Risk
KW - Service level
KW - Uncertainty
UR - http://www.scopus.com/inward/record.url?scp=85106991366&partnerID=8YFLogxK
U2 - 10.1515/zwf-2021-0064
DO - 10.1515/zwf-2021-0064
M3 - Artikel
AN - SCOPUS:85106991366
VL - 116
SP - 308
EP - 312
JO - ZWF Zeitschrift fuer Wirtschaftlichen Fabrikbetrieb
JF - ZWF Zeitschrift fuer Wirtschaftlichen Fabrikbetrieb
SN - 0947-0085
IS - 5
ER -