Estimating the lead-time demand distribution when the daily demand is non-normal and autocorrelated
type: Item
instance of: scholarly article
title: Estimating the lead-time demand distribution when the daily demand is non-normal and autocorrelated
zbMATH Open document ID: 0617.60095
DOI: 10.1016/0377-2217(87)90193-7
author: Yanyan Li
published in: European Journal of Operational Research
publication date: 1987-01-01T00:00:00Z
review text: This paper develops convenient formulas for estimating the probability distribution of lead time demand when the inventory item's daily demand follows a probability distribution of any arbitrary shape, and when simple univariate models can be found for the autocorrelated daily demand series. Numerical examples are presented to illustrate the use of these formulas. The numerical results also indicate that significant error may be incurred when inventory decisions are made without proper consideration of the autocorrelations or the arbitrary distribution shapes of daily demands.
Mathematics Subject Classification ID: 60K30
Mathematics Subject Classification ID: 90B05
zbMATH DE Number: 4001162
zbMATH Keywords: lead-time demand distribution
zbMATH Keywords: autocorrelation
zbMATH Keywords: non-normality
zbMATH Keywords: Numerical examples
zbMATH Keywords: inventory decisions
MaRDI profile type: Publication
full work available at URL: 0377-2217(87)90193-7
OpenAlex ID: W2021217469
cites work: Compound distributions with efficient computation in inventory model applications
cites work: Further approximate pearson percentage points and Cornish-Fisher
cites work: Q3847819
cites work: The Gamma Distribution and Inventory Control
cites work: Q5615180
cites work: Q5629004
cites work: The Use of Versatile Distribution Families in Some Stochastic Inventory Calculations
cites work: Inventory control with gamma demand and gamma lead times†
cites work: The Significance of Correlated Demands and Variable Lead Times for Stock Control Policies
cites work: Computation of Reorder Levels When the Demands are Correlated and the Lead Time Random
cites work: Applications of the Weibull Distribution in Inventory Control
description: scientific article; zbMATH DE number 4001162