Design of a forecasting Inventory Classification Model for ABC Analysis

Abstract

The importance of forecasting comes to see the future and predict with the events to prepare for any circumstances, Many companies such as pharmaceutical industry, dairy companies, food, and beverage companies including randomness in preparing orders for Semi-finished product to meet optimal quantity which should satisfy minimum total cost and maximize customer satisfaction, this need using production planning and control concepts. ABC Analysis is widely applied for inventory classification in many firms. We proposed in this paper a new model for inventory forecasting, to facilitate dealing with the Irregular Behavior Model, the C Sharp software was used. To obtain the required input to the Irregular Behavior Model Firstly the needed data were collected after that the data are analyzed by using ABC analysis, and then the analyzed data were used to solve the problems. The proposed model is adaptable and can be a supporter of decision-makers.