Lookup NU author(s): Seong Moon,
Dr Andrew Simpson,
Professor Christian Hicks
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The performance of alternative forecasting methods that use hierarchical and direct forecasting strategies for predicting spare parts demand depends on the characteristics of demand. This paper uses data obtained from the South Korean Navy to identify the features of demand for spare parts that influence the relative performance of alternative forecasting methods. A logistic regression classification model was developed for predicting the relative performance of the alternative forecasting methods. The model minimised forecasting errors and inventory.
Author(s): Moon S, Simpson A, Hicks C
Publication type: Article
Publication status: Published
Journal: International Journal of Production Econonomics
Print publication date: 25/02/2012
ISSN (print): 0925-5273
Publisher: Elsevier BV
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