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| Author: | Kaminsky, P. Swaminathan, J. M. |
| Title: | Utilizing Forecast Band Refinement for Capacitated Production Planning |
| Journal: | Manufacturing & service operations management
2001 : WINTER, VOL. 3:1, p. 68-81 |
| Index terms: | FORECASTING PRODUCTION PLANNING DEMAND |
| Language: | eng |
| Abstract: | The authors present a model for forecast evolution that captures two notions related to forecasts: (1) forecasts are not exact; (2) forecasts over longer horizons are less certain than those over shorter horizons. The authors model the forecast of discrete demand as a band defined by the lower and upper bounds on demand, such that future forecasts lie within the current band. The authors develop a capacitated production planning model for a single product with terminal demand. The authors develop four heuristics for the problem and characterize their performance. In particular, two of the heuristics are optimal for the no holding-cost case. |
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