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Better Forecasts or More Appropriate Stock Control Policies?

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  • Evangelos Theodorou
  • Evangelos Spilioti

Abstract

Should we focus our efforts on forecast accuracy or on improving our inventory policies? This question is addressed by Theodorou and Spiliotis through a simulation using retail data from the M5 competition. They find that while forecast accuracy improvements will generally lead to lower inventory costs (at least with this test data), optimizing the inventory policy can result in even greater benefits. Copyright International Institute of Forecasters, 2023

Suggested Citation

  • Evangelos Theodorou & Evangelos Spilioti, 2023. "Better Forecasts or More Appropriate Stock Control Policies?," Foresight: The International Journal of Applied Forecasting, International Institute of Forecasters, issue 68, pages 40-44, Q1.
    • Handle: RePEc:for:ijafaa:y:2023:i:68:p:40-44
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