Jurnal Forecasting of Purchase Dependent Power Demands using Vector Autoregressive Model as Basis for Inventory Policy in a Retailer

Jurnal Forecasting of Purchase Dependent Power Demands using Vector Autoregressive Model as Basis for Inventory Policy in a Retailer

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Ai, The Jin and Astanti, Ririn Diar and Wardoyo, Maria Monika
  

(2016)

Forecasting of Purchase Dependent Power Demands using
Vector Autoregressive Model as Base for Inventory Policy in a Retailer.

    In: Asia Pacific Industrial Engineering and Management Systems Conference, 7-10 December 2016, Taipei, Taiwan.
  

  

  

Abstract

Retailer is the stage in the supply chain that has responsibility for delivering the product to end customers. Nowadays, due to the advanced of the information technology, e-retailers (electronic retailers) is
increasing in number. However, sometimes a retailer uses both e-retailers and traditional retailers to sell the
same product to the end customer. This situation increases the complexity of managing inventory in that type of retailer. In addition, the type of product sold by retailers, i.e. the product that has purchase dependent power, makes the problem of managing inventory in the retailer more complex. In this paper, the
preliminary research was conducted in an apparel store in order to observe that two different products have
purchase dependent power, i.e. demand of product A affects the demand of product B, and vice versa. Then, a
vector autoregressive VAR (1) model is being used as the reference forecasting model for the demand pattern.
It is expected that the forecasting model can be used as a basis for determining inventory policy for two products with purchase dependent power.

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