Stock control with sporadic and slow-moving demand
Journal of the Operational Research Society, 35, (10), .
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Choosing a stock-control method for a product depends on that product's demand distribution. This paper presents a simple method of classifying product demand into `smooth', `slow-moving' or `sporadic', by partitioning the variance of demand during a lead time into causal parts. A study of a public utility showed demand distributions in each category to be of a specific nature. Stock-control and forecasting methods are developed, and simulation tests are described which compare these methods with (for ease of comparison) the assumption of continuous demand.
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