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

Related Articles

Forecasting Turkish Informatics Valley via Computerised Argument Delphi Technique

The aim of this study is an actual foresight analysis of Information Valley in Turkey and its social analysis through scientific methodologies and interpretation of its outcomes. Computerized Argument Delphi method has b...

Measuring the Relative Efficiencies of Statistics Departments in Turkey Using Data Envelopment Analysis

Determinants of success of an education system can be the facilities offered during an educational process and the qualifications obtained afterwards. However, conversion of the offered facilities into outputs efficientl...

Determining the Risk Factors Causing Cancer with Logistic Regression Analysis

The number of cancer patients is gradually increasing, and the main cause of this disease is believed widely to be genetic. However, the mere cause of this disease is not genetic. The purpose of this study was to determi...

Cellular Manufacturing Systems: Organization, Trends And Innovative Methods

Interchangeability is the distinguishing feature of modern manufacturing. A huge production capacity to satisfy the people is reached thanks to that concept. Yet that prospect brought up a dilemma too. Efficient but infl...

Determining The Relationship Between Happiness And Human Development: Multivariate Statistical Approach

It has been understood that it is not enough to consider just certain macro-economic indicators to determine the development level of countries. Human Development Index (HDI), which is a part of the Human Development Rep...

Download PDF file
  • EP ID EP196126
  • DOI 10.17093/aj.2015.3.2.5000140055
  • Views 147
  • 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