School Seminars and Colloquia

Forecasting and Inventory Control: A 21st Century Perspective

ORSUM Seminar

by Assoc Prof Ralph Snyder


Institution: Dept of Econometrics and Business Statistics, Monash University
Date: Fri 25th November 2005
Time: 1:05 PM
Location: Room 213, Richard Berry Building, The University of Melbourne

Abstract: It is now nearly fifty years since the seminal text Å’Forecasting and
Inventory Control‚ appeared in print. Written by Robert Goodell Brown, the
then doyen of US operations management consultants, it had an enormous impact on the practice of inventory management. It introduced the exponential smoothing methods for forecasting demand. It also provided the so-called customer service level approach to inventory control. Since then we have seen the emergence of just-in-time production, materials requirements planning, and the establishment of integrated global
distribution systems. Above all, we have seen the introduction and
widespread adoption of high powered computing technologies in business and industry. In this talk, I will review his methods and suggest practical
enhancements that would have been inconceivable with the comparatively
crude computational technologies prevailing in 1959.

For More Information: Mark Fackrell tel. 8344 8053 email: m.fackrell@ms.unimelb.edu.au