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Regular version of the site

Book chapter

Assessment of Inventory Indicators for Nomenclature Groups with Rare Demand

P. 121-129.
Lukinskiy V., Lukinsky V., Strimovskaya A.

Rare demand is an important part of the inventory management,
nevertheless there are no any appropriate analytical descriptions or numerical
examples of it except separate papers where considered the possibility to
describe rare demand with Poisson distribution. The divergence between forecasts
and actual data could be explained by the following reasons: the first
one—extreme values in preforecasting period, as well as not significant ‘length’
of the analyzed time period; the second one—taking data for the forecast from
the period of conduction certain actions (sales, promo, etc.), consideration of
these actions might be done with combined forecasting methods. The paper
describes the approach to assessment of inventory consumption for rare demand
based on Poisson distribution. Besides, the paper contains the numerical
examples and analysis of the results.