New Logistics Model Improves Forecast Accuracy of Retail and Packaged-Goods Orders

(PhysOrg.com) -- Whether it`s dog food or iPods, tires or televisions, virtually every consumer has endured a frustrating out-of-stock experience. Retailers hate it as much as customers, perhaps more, because they lose money and credibility. Examining this problem at a specific link - suppliers and distribution centers - in the retail and consumer-packaged goods supply chain, a logistics researcher at the University of Arkansas and his colleague discovered that application of a common error-correction model improves the accuracy of forecasting orders.

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