Accession Number : AD0704161

Title :   INVENTORY SYSTEMS WITH IMPERFECT ASSET INFORMATION,

Corporate Author : DECISION STUDIES GROUP PALO ALTO CALIF

Personal Author(s) : Morey,Richard C. ; Iglehart,Donald L.

Report Date : 01 MAR 1970

Pagination or Media Count : 19

Abstract : The report studies inventory systems in which the stock records are in error. The overall goal is to determine economically the proper level of stock record accuracy to maintain, consistent with insuring that the remaining errors do not contribute significantly to warehouse denials, i.e., phenomena in which the stock records show a balance sufficient to cover a material release order, but for which insufficient units of physical stock can be found. The factors considered in addition to the statistics of the errors, are the costs and movement of the items and the costs and accuracies of the various types of counting procedures available. The approach taken determines the type and frequency of the counts, together with the modifications to a predetermined stocking policy, to insure, at minimum total cost per unit time, that the likelihood of a warehouse denial occurring between counts is held below some prescribed level. (Author)

Descriptors :   (*INVENTORY CONTROL, RELIABILITY), MATHEMATICAL MODELS, ERRORS, MANAGEMENT PLANNING AND CONTROL, DATA PROCESSING, COSTS, PROBABILITY, STATISTICAL PROCESSES, WAREHOUSES

Subject Categories : Administration and Management

Distribution Statement : APPROVED FOR PUBLIC RELEASE