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Splitting hybrid Make-To-Order and Make-To-Stock demand profiles

Garn, Wolfgang and Aitken, James (2015) Splitting hybrid Make-To-Order and Make-To-Stock demand profiles arXiv.

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Abstract

In this paper a demand time series is analysed to support Make-To-Stock (MTS) and Make-To-Order (MTO) production decisions. Using a purely MTS production strategy based on the given demand can lead to unnecessarily high inventory levels thus it is necessary to identify likely MTO episodes. This research proposes a novel outlier detection algorithm based on special density measures. We divide the time series' histogram into three clusters. One with frequent-low volume covers MTS items whilst a second accounts for high volumes which is dedicated to MTO items. The third cluster resides between the previous two with its elements being assigned to either the MTO or MTS class. The algorithm can be applied to a variety of time series such as stationary and non-stationary ones. We use empirical data from manufacturing to study the extent of inventory savings. The percentage of MTO items is reflected in the inventory savings which were shown to be an average of 18.1%.

Item Type: Article
Divisions : Faculty of Arts and Social Sciences > Surrey Business School
Authors :
AuthorsEmailORCID
Garn, WolfgangUNSPECIFIEDUNSPECIFIED
Aitken, JamesUNSPECIFIEDUNSPECIFIED
Date : 14 April 2015
Contributors :
ContributionNameEmailORCID
Editorunknown, UNSPECIFIEDUNSPECIFIED
Additional Information : This is an archive publication.
Depositing User : Symplectic Elements
Date Deposited : 09 Jun 2015 12:57
Last Modified : 09 Jun 2015 12:59
URI: http://epubs.surrey.ac.uk/id/eprint/807736

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