The Application of Exponential Smoothing to Forecasting Demand for Economic Order Quantity Items.
AIR FORCE INST OF TECH WRIGHT-PATTERSON AFB OHIO SCHOOL OF SYSTEMS AND LOGISTICS
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Effective management of economic order quantitiy EOQ items at an Air Force base consolidated supply activity requires the use of a demand forecasting technique to routinely estimate future demand for the purpose of establishing stock levels. This study compares the effectiveness of four forecasting models feasible for use at base level. The moving averages method and three exponential smoothing models single, double and triple are evaluated using 22 months of demand history for a random sample of 34 EOQ items stocked at a base consolidate supply activity. Four statistical error measures are used to compare the accuracy of the forecasts generated by the models for the items. AUthor
- Logistics, Military Facilities and Supplies