There are many planning techniques that Fisher Scientific implements when forecasting inventory and demand. When planning for the demand of a service or product, Fisher focuses on a reorder point bases. When inventory on product drops below the reorder point, this queues up in the purchasing system. When calculating the total reorder point, the planning group analyzes two parts. The fist segment consists of statistical data that is calculated dependant on what minimum amount of product is needed to supply the customer demand and safety stock requirements. …
