Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/62196
Title: A new production approach for compensating forecast error and customer loss in waiting
Authors: Qian, C
Chan, CY 
Keywords: Customer behaviour
Forecast variation
Production model
Issue Date: 2015
Publisher: Taylor & Francis
Source: International journal of production research, 2015, v. 53, no. 5, p. 1325-1336 How to cite?
Journal: International journal of production research 
Abstract: It is noticeable that forecast information is always subject to some deviations, but it helps reduce the product time-to-market. This is important as customer loyalty decreases as the waiting time becomes longer; thus, to have a balance between forecast error and customer loss becomes essential. This paper presents a production approach that aims at compensating the forecast error and the possible customer loss in waiting for either a product (or a service) to boost the profit. A novel model to tackle this scenario is presented. The results showed that it could offer a better production solution than the Make-To-Stock or the Make-To-Order approaches by starting the production sometime in between these two traditional approaches.
URI: http://hdl.handle.net/10397/62196
ISSN: 0020-7543
EISSN: 1366-588X
DOI: 10.1080/00207543.2014.918292
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