publication . Article . 2012

Stochastic model of forecasting spare parts demand

Ivan Milojevic; Rade Guberinic;
Open Access English
  • Published: 01 Jan 2012 Journal: Vojnotehnički Glasnik (issn: 0042-8469, eissn: 2217-4753, Copyright policy)
  • Publisher: University of Defence in Belgrade
Abstract
If demand is known for the whole planning period (complete information), then this type of demand or a supply system is deterministic. In the simplest cases, the demand per time unit is constant. If demand levels change over time following a precisely determined and pre-known principle, this type of demand is also classified as deterministic. This quality of demand is very rare. In most cases demand is the product of a process, for example TMS maintenance, whose progression cannot be predicted due to a number of factors influencing the process and causing random demand changes. In this case, a supply system must function according to the complete information and...
Subjects
free text keywords: demand of spare parts, model forecasts, time series, curve of growth, demand management, Mechanical engineering and machinery, TJ1-1570, Military Science, U, Unit of time, Economics, Complete information, Stochastic modelling, Probability distribution, Demand forecasting, Stochastic process, Extrapolation, Econometrics, Spare part
Powered by OpenAIRE Open Research Graph
Any information missing or wrong?Report an Issue
publication . Article . 2012

Stochastic model of forecasting spare parts demand

Ivan Milojevic; Rade Guberinic;