On ordering adjustment policy under rolling forecast in supply chain planning

NCUIR > School of Management at National Central University > Department of Information Management > journal & Dissertation > Item 987654321/51859

Please use this identifier to cite or link to this item: http://ir.lib.ncu.edu.tw/handle/987654321/51859

Title:	On ordering adjustment policy under rolling forecast in supply chain planning
Authors:	Huang,LT;Hsieh,IC;Farn,CK
Contributors:	資訊管理學系
Keywords:	INFORMATION;INVENTORY;PERFORMANCE;PARAMETERS;ACCURACY;IMPACT
Date:	2011
Issue Date:	2012-03-27 19:07:49 (UTC+8)
Publisher:	國立中央大學
Abstract:	Rolling forecast is a useful tool for lowering total cost with regard to practical inventory management. The details regarding a rolling forecast are obtained from a customer's projected ordering data. The customer estimation of a rolling forecast may deviate from actual orders because of unstable conditions or customer's deliberation. This study investigates what measures a customer might apply in responding to a situation where the rolling forecast deviates from the actual order. In addition, an appropriate ordering adjustment policy is proposed for better monitoring the supply chain performance with regard to a variant level of error concerning rolling forecast data. This study also considers the influence of lead time and inventory cost structure. We adopted a simulation approach, employing a model developed and examined in several different settings. The proposed ordering adjustment policies are determined by AVG. SD, and RMSE calculated from differences existing between historical forecasts and realized data. Levels of estimate error and estimate bias in a rolling forecast are included in the experimental procedure. Results reveal that the RMSE ordering adjustment policy is the most effective in situations of normal and downside estimation bias, whereas the AVG policy is more appropriate in the case of upside estimation bias. The level of estimation error is irrelevant to the selection of ordering adjustment policies, but it is positively associated with inventory costs. Stock-out costs and lead time are positively associated with inventory costs. Accuracy of the rolling forecast is therefore deemed to be essential in a situation involving a long lead time with high stock-out costs. (C) 2010 Elsevier Ltd. All rights reserved.
Relation:	COMPUTERS & INDUSTRIAL ENGINEERING
Appears in Collections:	[資訊管理學系] 期刊論文

Files in This Item:

File	Description	Size	Format
index.html		0Kb	HTML	633	View/Open

社群 sharing

Loading...