Forecasting Intermittent Demand by Markov Chain Model
INTERNATIONAL JOURNAL OF INNOVATIVE COMPUTING, INFORMATION AND CONTROL, cilt.9, sa.8, ss.3307-3318, 2013 (Scopus)
- Yayın Türü: Makale / Tam Makale
- Cilt numarası: 9 Sayı: 8
- Basım Tarihi: 2013
- Dergi Adı: INTERNATIONAL JOURNAL OF INNOVATIVE COMPUTING, INFORMATION AND CONTROL
- Derginin Tarandığı İndeksler: Scopus
- Sayfa Sayıları: ss.3307-3318
- Anahtar Kelimeler: Forecasting, Intermittent, Lead time, Markov chain model, Transition probability
- Dokuz Eylül Üniversitesi Adresli: Evet
Özet
The inventory control of the products which have intermittent demand is essential for many organizations since these items have a low lead time demand but a high price. Since the intermittent demand pattern is irregular, the estimation of the lead time demand is challenging. A modified Markov chain model (MMCM) has been pro-posed for modeling and estimating intermittent demand data, motivated by a case study. The performance of MMCM and the traditional methods have been compared by accuracy measures. The results reveal that the proposed method is a good competitor or even better than other methods.