Service Parts Management Demand Forecasting and Inventory Control [Paperback]

With the pressure of time-based competition increasing, and customers demanding faster service, availability of service parts becomes a critical component of manufacturing and servicing operations. Service Parts Management first focuses on intermittent demand forecasting and then on the management of service parts inventories. It guides researchers and practitioners in finding better management solutions to their problems and is both an excellent reference for key concepts and a leading resource for further research. Demand forecasting techniques are presented for parametric and nonparametric approaches, and multi echelon cases and inventory pooling are also considered. Inventory control is examined in the continuous and periodic review cases, while the following are all examined in the context of forecasting: error measures, distributional assumptions, and decision trees. Service Parts Management provides the reader with an overview and a detailed treatment of the current state of the research available on the forecasting and inventory management of items with intermittent demand. It is a comprehensive review of service parts management and provides a starting point for researchers, postgraduate students, and anyone interested in forecasting or managing inventory.

Focusing on a critical component of manufacturing and servicing operations, this work looks at intermittent demand forecasting, then at the management of service parts inventories. It is both an excellent reference and a useful resource for further research.

With the pressure of time-based competition increasing, and customers demanding faster service, the availability of service parts becomes a critical component of manufacturing and servicing operations. Potentially, the aftermarket service industry may account for 25% of a manufacturers annual revenue. On the other hand, keeping too many of such spare parts increases operational costs and eats up the bottom line. The chlC"