APPLICATION OF STATISTICAL FORECASTING TECHNIQUES IN INVENTORY CONTROL POLICY

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

Solution to inventory problem using techniques of classical inventory control, sales forecasting and simulation; basic inventory system developed herein has been implemented by company with reasonable success; IBM 7040 computer is used to perform monthly calculations and print reports regarding necessary production, machine loading and job scheduling; inventory costs have been reduced and management decisions regarding inventories have been based on more accurate and reliable data than was previously available.

Original languageEnglish (US)
Title of host publicationProduction & Inventory Mgmt
Pages66-74
Number of pages9
Volume10
Edition1
StatePublished - Mar 1969
Externally publishedYes

ASJC Scopus subject areas

  • Engineering(all)

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