Inventory improvement in tyre retail through demand forecasting
Autor(a) principal: | |
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Data de Publicação: | 2023 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10773/38631 |
Resumo: | The aim of this study is to develop the inventory planning system of a Portuguese tyre retailer based on forecasting sales models. Using sales history up to 2020, tyres were grouped into three levels of sales aggregation and different quantitative forecasting models were applied. The comparison of these models resorted to various evaluation measures to choose the most suitable one for each group. The study shows that for items with sales grouped monthly and for items with sales grouped by semester, Holt’s method had a better performance on determining sales forecasts, while for tyres with sales grouped quarterly, it was Croston’s method that stood out. The inventory policy outlined for each group of items reflects the results of the forecasted demand, and the review period depends on the sales group under analysis. In agreement with previous studies, the usefulness of statistical methods is corroborated. Additionally, the advantage of combining the said methods proved helpful, particularly as a starting point for tyre retail inventory planning. |
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Inventory improvement in tyre retail through demand forecastingInventoryInventory planningForecasting modelsSales forecastingIntermittent demandThe aim of this study is to develop the inventory planning system of a Portuguese tyre retailer based on forecasting sales models. Using sales history up to 2020, tyres were grouped into three levels of sales aggregation and different quantitative forecasting models were applied. The comparison of these models resorted to various evaluation measures to choose the most suitable one for each group. The study shows that for items with sales grouped monthly and for items with sales grouped by semester, Holt’s method had a better performance on determining sales forecasts, while for tyres with sales grouped quarterly, it was Croston’s method that stood out. The inventory policy outlined for each group of items reflects the results of the forecasted demand, and the review period depends on the sales group under analysis. In agreement with previous studies, the usefulness of statistical methods is corroborated. Additionally, the advantage of combining the said methods proved helpful, particularly as a starting point for tyre retail inventory planning.MDPI2023-07-13T10:58:40Z2023-06-25T00:00:00Z2023-06-25info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10773/38631eng2673-459110.3390/engproc2023039001Neves, DianaMonteiro, MagdaFelício, Maria Joséinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-02-22T12:14:59Zoai:ria.ua.pt:10773/38631Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:08:52.322970Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Inventory improvement in tyre retail through demand forecasting |
title |
Inventory improvement in tyre retail through demand forecasting |
spellingShingle |
Inventory improvement in tyre retail through demand forecasting Neves, Diana Inventory Inventory planning Forecasting models Sales forecasting Intermittent demand |
title_short |
Inventory improvement in tyre retail through demand forecasting |
title_full |
Inventory improvement in tyre retail through demand forecasting |
title_fullStr |
Inventory improvement in tyre retail through demand forecasting |
title_full_unstemmed |
Inventory improvement in tyre retail through demand forecasting |
title_sort |
Inventory improvement in tyre retail through demand forecasting |
author |
Neves, Diana |
author_facet |
Neves, Diana Monteiro, Magda Felício, Maria José |
author_role |
author |
author2 |
Monteiro, Magda Felício, Maria José |
author2_role |
author author |
dc.contributor.author.fl_str_mv |
Neves, Diana Monteiro, Magda Felício, Maria José |
dc.subject.por.fl_str_mv |
Inventory Inventory planning Forecasting models Sales forecasting Intermittent demand |
topic |
Inventory Inventory planning Forecasting models Sales forecasting Intermittent demand |
description |
The aim of this study is to develop the inventory planning system of a Portuguese tyre retailer based on forecasting sales models. Using sales history up to 2020, tyres were grouped into three levels of sales aggregation and different quantitative forecasting models were applied. The comparison of these models resorted to various evaluation measures to choose the most suitable one for each group. The study shows that for items with sales grouped monthly and for items with sales grouped by semester, Holt’s method had a better performance on determining sales forecasts, while for tyres with sales grouped quarterly, it was Croston’s method that stood out. The inventory policy outlined for each group of items reflects the results of the forecasted demand, and the review period depends on the sales group under analysis. In agreement with previous studies, the usefulness of statistical methods is corroborated. Additionally, the advantage of combining the said methods proved helpful, particularly as a starting point for tyre retail inventory planning. |
publishDate |
2023 |
dc.date.none.fl_str_mv |
2023-07-13T10:58:40Z 2023-06-25T00:00:00Z 2023-06-25 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10773/38631 |
url |
http://hdl.handle.net/10773/38631 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
2673-4591 10.3390/engproc2023039001 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
MDPI |
publisher.none.fl_str_mv |
MDPI |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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1799137740438110209 |