A comparison of unconstrained and constrained OLS for the combination of demand forecasts: A case study of the ordering and stocking of bank printed forms

Chi Kin Chan, Brian G. Kingsman, H. Wong

Research output: Journal article publicationJournal articleAcademic researchpeer-review

2 Citations (Scopus)

Abstract

A leading bank in Hong Kong consumes more than three hundred kinds of printed forms for its daily operations. It has an inventory control system for the forms management. A major problem of the system is to forecast the monthly demand of these forms. In this study, the idea of combination of forecasts is introduced and its practical problem is addressed. The individual forecasts come from well-established time series models and the weights for combination are estimated with quadratic programming.
Original languageEnglish
Pages (from-to)129-140
Number of pages12
JournalAnnals of Operations Research
Volume87
Publication statusPublished - 1 Dec 1999

Keywords

  • Combination of forecasts
  • Inventory control
  • Quadratic programming

ASJC Scopus subject areas

  • Decision Sciences(all)
  • Management Science and Operations Research

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