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Forecasting for Inventory Control: An Example of When “Simple” Means “Better”

Author

Listed:
  • Rochelle Cohen

    (Department of Mathematics and Science, City Polytechnic of Hong Kong, Argyle Centre, Tower II, 700 Nathan Road, Mongkok, Kowloon, Hong Kong)

  • Fraser Dunford

    (Management Science Group, Esso Petroleum Canada, 55 St. Clair Avenue West, Toronto, Ontario M5W 2J8, Canada)

Abstract

The Manitoba Telephone System (MTS) wanted to forecast demand for telephones in order to control the inventory in their phone centers. Although this appears to be a very straightforward problem, data difficulties made it impossible to use most of the common forecasting models. Nevertheless, the use of a very simple forecasting model resulted in an inventory reduction of 45 percent.

Suggested Citation

  • Rochelle Cohen & Fraser Dunford, 1986. "Forecasting for Inventory Control: An Example of When “Simple” Means “Better”," Interfaces, INFORMS, vol. 16(6), pages 95-99, December.
    • Handle: RePEc:inm:orinte:v:16:y:1986:i:6:p:95-99
    DOI: 10.1287/inte.16.6.95
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    Cited by:

    1. Marisol Valencia Cárdenas & Juan Gabriel Vanegas López & Juan Carlos Correa Morales & Jorge Aníbal Restrepo Morales, 2017. "Comparing forecasts for tourism dynamics in Medellín, Colombia," Lecturas de Economía, Universidad de Antioquia, Departamento de Economía, issue 86, pages 199-230, Enero - J.
    2. Valencia Cárdenas, Marisol & Vanegas López, Juan Gabriel & Correa Morales, Juan Carlos & Restrepo Morales, Jorge Aníbal, 2016. "Comparación de pronósticos para la dinámica del turismo en Medellín, Colombia," Revista Lecturas de Economía, Universidad de Antioquia, CIE, issue 86, pages 199-230, December.

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