The Use of Versatile Distribution Families in Some Stochastic Inventory Calculations

DOI10.2307/2581188MaRDI QIDQ3887181zbMATH OpenOpenAlexFDO

Authors John F. Kottas, Hon-Shiang Lau

Publication date 1980

Published in The Journal of the Operational Research Society (Search for Journal in Brave)

Full work available at URL https://doi.org/10.2307/2581188

zbMATH Keywords

gamma pdfnormal pdfstochastic inventory problemsversatile distribution familiesWeibull pdf

Mathematics Subject Classification ID

Probabilistic methods, stochastic differential equations (65C99) Inventory, storage, reservoirs (90B05)

Cited in

(8)

• Safety stock determination with correlated demands and arbitrary lead times
• Modelling \((s,Q)\) inventory systems: Parametric versus non-parametric approximations for the lead time demand distribution
• Optimal ordering policies with two suppliers when lead times and demands are all stochastic
• Reordering strategies for a newsboy-type product
• Estimating the lead-time demand distribution when the daily demand is non-normal and autocorrelated
• When is it feasible to model low discrete demand by a normal distribution?
• An \(L\)-moment-based analog for the Schmeiser-Deutsch class of distributions
• Newsvendor solutions via conditional value-at-risk minimization

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