On a new approach to the analysis of stationary inventory problems
dc.contributor.author | Leneman, Oscar A. Z. | en_US |
dc.contributor.author | Beutler, Frederick J. | en_US |
dc.date.accessioned | 2013-11-01T19:01:06Z | |
dc.date.available | 2013-11-01T19:01:06Z | |
dc.date.issued | 1969-03 | en_US |
dc.identifier.citation | Leneman, Oscar A. Z.; Beutler, Frederick J. (1969). "On a new approach to the analysis of stationary inventory problems ." Naval Research Logistics Quarterly 16(1): 1-15. <http://hdl.handle.net/2027.42/100322> | en_US |
dc.identifier.issn | 0028-1441 | en_US |
dc.identifier.issn | 1931-9193 | en_US |
dc.identifier.uri | https://hdl.handle.net/2027.42/100322 | |
dc.description.abstract | The intent of this paper is to demonstrate that the theory of stationary point processes is a useful tool for the analysis of stationary inventory systems. In conventional inventory theory, the equilibrium distributions for a specified inventory policy are obtained, whenever possible, by recursive or limiting procedures, or both. A different and more direct approach, based on stationary point processes, is proposed here. The time instants at which stock delivery is effected are viewed as points of the stationary point process, which possesses uniform statistical properties on the entire real axis; hence the equilibrium statistics of the inventory process can be calculated directly. In order to best illustrate this approach, various examples are given, including some that constitute new results. | en_US |
dc.publisher | Wiley Subscription Services, Inc., A Wiley Company | en_US |
dc.title | On a new approach to the analysis of stationary inventory problems | en_US |
dc.type | Article | en_US |
dc.rights.robots | IndexNoFollow | en_US |
dc.subject.hlbsecondlevel | Naval Architecture and Marine Engineering | en_US |
dc.subject.hlbtoplevel | Engineering | en_US |
dc.description.peerreviewed | Peer Reviewed | en_US |
dc.contributor.affiliationum | Computer, Information & Control Engineering Program The University of Michigan Ann Arbor, Michigan | en_US |
dc.contributor.affiliationother | Massachusetts Institute of Technology Lincoln Laboratory Lexington, Massachusetts | en_US |
dc.description.bitstreamurl | http://deepblue.lib.umich.edu/bitstream/2027.42/100322/1/3800160101_ftp.pdf | |
dc.identifier.doi | 10.1002/nav.3800160101 | en_US |
dc.identifier.source | Naval Research Logistics Quarterly | en_US |
dc.identifier.citedreference | Bulinskaya, E., “Steady‐State Solutions in Problems of Optimum Inventory Control,” in Theory of Prob. and Its Appl., 9, 502 – 507 ( 1964 ). | en_US |
dc.identifier.citedreference | Beutler, F. J. and Leneman, O. A. Z., “Random Sampling of Random Processes,” Information and Control, 9, 325 – 346 ( 1966 ). | en_US |
dc.identifier.citedreference | Beutler, F. J. and Leneman, O. A. Z., “The Theory of Stationary Point Processes,” in Acta Math., 116, 159 – 197.( 1966 ). | en_US |
dc.identifier.citedreference | Arrow, K. J., Karlin, S., and Scarf, H., Studies in the Mathematical Theory of Inventory and Production ( Stanford Univ. Press, Stanford, Calif., 1958 ). | en_US |
dc.identifier.citedreference | Scarf, H., Gilford, D., and Shelly, M., Multistage Inventory Models and Techniques ( Stanford Univ. Press, Stanford, Calif., 1963 ). | en_US |
dc.owningcollname | Interdisciplinary and Peer-Reviewed |
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