Integrated Forecasting and Inventory Control for Seasonal Demand: a Comparison with the Holt-Winters Approach
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.
Entry Submitted: 03/14/2008
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