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Accession Number ADA586416
Title Lead Time Demand Modeling in Continuous Review Supply Chain Models.
Publication Date Apr 2013
Media Count 20p
Personal Author A. W. Johnson B. R. Cobb
Abstract This paper introduces a mixture distribution approach to modeling the probability density function for lead time demand (LTD) in problems where a continuous review inventory system is implemented. The method differs from the typical 'moment-matching' approach by focusing on building up an accurate, closed-form approximation to the LTD distribution from its components by using mixtures of truncated exponential (MTE) functions. First, construction of the LTD is illustrated and the approach is compared to two other possible LTDs. This distribution is then utilized to determine optimal order policies in cases in which a buyer makes its decisions alone, and later in a situation in which members of a two-level supply chain coordinate their actions.
Keywords Approximation(Mathematics)
Computerized simulation
Continuous review supply chain models
Decision making
Demand(Economics)
Department of defense
Exponential functions
Inventory control
Inventory policies
Lead time
Lead time demand modeling
Optimization
Policies
Probability density functions
Supplies
Symposia
Uncertainty


 
Source Agency Non Paid ADAS
NTIS Subject Category 72B - Algebra, Analysis, Geometry, & Mathematical Logic
72F - Statistical Analysis
74E - Logistics, Military Facilities, & Supplies
Corporate Author Virginia Military Inst., Lexington.
Document Type Technical report
Title Note Conference paper.
NTIS Issue Number 1405
Contract Number NPS-BAA-12-002 N00244-13-1-0014

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