Integrated Forecasting and Inventory Control for Seasonal Demand: a Comparison with the Holt-Winters Approach

Gokhan Metan(gom204lehigh.edu)
Aurelie Thiele(aut204lehigh.edu)

Abstract: We present a data-driven forecasting technique with integrated inventory control for seasonal data and compare it to the traditional Holt-Winters algorithm. Results indicate that the data-driven approach achieves a 2-5% improvement in the average regret.

Keywords: inventory management, seasonal demand

Category 1: Applications -- OR and Management Sciences (Production and Logistics )

Citation: Technical Report, Lehigh University, Department of Industrial and Systems Engineering, Bethlehem, PA.

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Entry Submitted: 03/14/2008
Entry Accepted: 03/17/2008
Entry Last Modified: 03/14/2008

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