DEMAND FORECASTING FOR HIGH-TURNOVER SPARE PARTS IN AGRICULTURAL AND CONSTRUCTION MACHINES: A CASE STUDY
Keywords:High turnover stock, Spare Parts., Demand Forecasting, Box-Jenkins Models
Conventional demand forecasting and inventory management models cannot be applied to replacement parts due to their intermittent and seasonal demand. Thus the aim of this study is to compare, in the case of the strategic stocking of high turnover replacement parts, the demand forecast model currently used by construction and agricultural machinery companies with the Box-Jenkins statistical model. The results show that it is important to use a methodology based on statistical techniques in inventory management, and that the proposed model adapts better to high turnover stock control.
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