Measuring noise in inventory models

Article Abstract:

The sources and magnitude of misspecification or noise in different forms of the inventory production smoothing model, are determined by studying the effect of a buffer stock motive, a stockout avoidance motive and observable cost shocks on how well the model fits. There is substantial noise in the pure production smoothing model where companies do not employ inventories to buffer current shocks, avoid stockouts, or smooth cost shocks to increase inventories. The remaining noise in the model is caused by observable cost shocks.

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Input and output inventories

Article Abstract:

Research investigating the structure of business inventories which have the ability to distinguish between value added and gross production is presented. Particular attention is given to models of stage-of-fabrication inventories with usage, stocks of input materials and delivery data.

Management, Business, Inventories

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Inventories, employment and hours

Article Abstract:

A mathematical model correlating inventory management with decisions relating to labor is presented.

Italy, United States, Methods, Decision-making, Decision making, Analysis, Usage, Mathematical models, Labor supply, Labor force, Labour force

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