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.

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ASJC Scopus subject areas

  • Engineering(all)

Cite this

Montgomery, D. (1969). APPLICATION OF STATISTICAL FORECASTING TECHNIQUES IN INVENTORY CONTROL POLICY. In Production & Inventory Mgmt (1 ed., Vol. 10, pp. 66-74)