STOCHASTIC METHODS AND SYSTEMS FOR DETERMINING DISTRIBUTION CENTER AND WAREHOUSE DEMAND FORECASTS FOR SLOW MOVING PRODUCTS
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United States of America Patent
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Issued Date -
Mar 3, 2011
app pub date -
Dec 29, 2009
filing date -
Sep 1, 2009
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
A method and system for determining distribution center or warehouse product order quantities of a slow selling product. The method includes the step of determining for each one of a plurality of stores supplied by the distribution center, a store sales forecast for the slow selling product. The method converts the store sales forecast to a stochastic forecast when the average rate of sale of the product is less than a minimum average rate of sale threshold value. Store order forecasts are thereafter determined by subtracting a store inventory value from the stochastic forecast when average rate of sale is less than the average rate of sale threshold value, and subtracting the store inventory value from the sales forecast when the average rate of sale is not less than said average rate of sale threshold value. The individual store order forecasts are accumulated to generate a distribution center demand forecast; which is compared with current and projected inventory levels for the product at the distribution center to determine distribution center order quantities necessary for maintaining a product inventory level sufficient to meet the distribution center demand forecast for the product.
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