Article ID: | iaor1993888 |
Country: | Netherlands |
Volume: | 28 |
Issue: | 2 |
Start Page Number: | 211 |
End Page Number: | 215 |
Publication Date: | Nov 1992 |
Journal: | International Journal of Production Economics |
Authors: | Hill Roger M. |
Keywords: | point of sale |
In most retail environments the only information available on customer demand comes from sales data. When a product is out of stock there is generally no knowledge of what potential sales have been lost. This creates problems when it comes to estimating (forecasting) the demand distribution and its parameters. This paper looks at this problem and considers ways of overcoming it, in particular making use of data captured by modern point of sale systems.