Decision Control Models in Operations Research.
Final rept. 1 Sep 76-31 Dec 77,
NORTH CAROLINA UNIV AT CHAPEL HILL
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The research concentrated on one major topic of investigation statistical properties of inventory models. The analysis deals with comparing the operating characteristics of several important stockage rules when the underlying demand distribution parameters are estimated from a limited sample of historical data e.g., 13, 26 or 52 observations. Particular attention is given to the frequently observed case where the probability of zero demand occurring within any time period is significantly large e.g., half of the historical observations indicate zero demand, but the positive levels of demand are not necessarily small. The overall context of the analyses is a large-scale inventory system containing thousands of individual items, and thus, the computational burden of implementing the stockage policies must be recognized in the comparison of different stockage rules. The research approach encompasses applied Markovian probability analysis and computer simulation analysis containing sophisticated statistical autoregressive time series methods. Author
- Statistics and Probability
- Operations Research