Accession Number : AD0703872
Title : COST-MINIMIZING INVENTORY CONTROL OF ITEMS HAVING A SPECIAL TYPE OF ERRATIC DEMAND PATTERN.
Descriptive Note : Technical rept.,
Corporate Author : ARMY LOGISTICS MANAGEMENT CENTER FORT LEE VA
Personal Author(s) : Deemer,Robert L. ; Ho,Chung-Mei ; Silver,Edward A.
Report Date : MAR 1970
Pagination or Media Count : 47
Abstract : The paper considers an item with a demand pattern characterized by Poisson occurrences of transactions whose sizes are geometrically distributed. Empirically it has been found that a significant number of inventoried items possess a demand pattern of this type. For a reorder-point (R), order-up-to level (M) system under continuous review and complete backordering a practical procedure is developed for determining the values of R and M as functions of three given parameters. (Author)
Descriptors : (*ARMY EQUIPMENT, *INVENTORY CONTROL), (*INVENTORY, MATHEMATICAL PREDICTION), PERIODIC VARIATIONS, COSTS, MANAGEMENT PLANNING AND CONTROL, OPTIMIZATION, STATISTICAL DISTRIBUTIONS, PROBABILITY
Subject Categories : Logistics, Military Facilities and Supplies
Distribution Statement : APPROVED FOR PUBLIC RELEASE