Modelling (s, Q) inventory systems: parametric versus non-parametric approximations for the lead time demand distribution

Article Abstract:

Different parametric estimations are compared to the kernel density method in an (s, Q) inventory model with cost criterion. The results from Monte Carlo simulation studies show the advantages of the kernel density method over parametric approximations. The kernel density estimation method with a local band width significantly determine the peculiarities in the lead time demand distribution and is applicable even with high service levels.

Lead time

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The impact of unknown demand parameters on (R, S) - inventory control performance

Article Abstract:

The effects of unknown demand parameters that cause additional variation on (R, S)-inventory control performance are examined.

Netherlands, Supply and demand

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Modified normal demand distributions in (R, S)-inventory control

Article Abstract:

Modified safety factors and inventory control of the normal distribution system are analyzed.

Europe, Science & research, Methods, Gaussian distribution, Normal distribution

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