Reducing Inventory System Costs by Using Robust Demand Estimators

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Raymond A. Jacobs; Harvey M. Wagner;
(1989)
  • Journal: Management Science,volume 35,issue 7 July,pages771-787
  • Related identifiers: doi: 10.1287/mnsc.35.7.771
  • Subject: inventory/production, applications, parameter estimation, ordering policies

Applications of inventory theory typically use historical data to estimate demand distribution parameters. Imprecise knowledge of the demand distribution adds to the usual replenishment costs associated with stochastic demands. Only limited research has been directed at... View more
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