A Bayesian Approach Proposal For Inventory Cost And Demand Forecasting

Journal Title: Alphanumeric Journal - Year 2015, Vol 3, Issue 2

Abstract

Technology’s perpetual vicissitude and product models’ distinction in industrial market have a crucial effect on forecasting demand for spare components. In order to set forth the future demand rates for products, inventory managers repetitively update their prognostications. Bayesian model is utilizing a prior probability distribution for the injunctive authorization rate which was habituated in order to get optimum levels of account over a number of periods. However, under sundry demand rates like intermittent demand, Bayesian Model’s performance has not been analyzed. With the help of a research question, the study investigates that circumstance.

Authors and Affiliations

Sinan Apak

Keywords

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  • EP ID EP196126
  • DOI 10.17093/aj.2015.3.2.5000140055
  • Views 123
  • Downloads 0

How To Cite

Sinan Apak (2015). A Bayesian Approach Proposal For Inventory Cost And Demand Forecasting. Alphanumeric Journal, 3(2), 41-48. https://europub.co.uk/articles/-A-196126