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