Inventory Investment Analysis Using Biased Sampling Techniques

William L. Berry, Myles Marcus and J. Greg Williams
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William L. Berry: Indiana University
Myles Marcus: Travenol Laboratories, Inc., Morton Grove, Illinois
J. Greg Williams: Bell Helicopter Textron, Fort Worth

Management Science, 1977, vol. 23, issue 12, 1295-1306

Abstract: This paper describes the use of Biased Sampling to solve an inventory planning problem at a firm which produces plastic coated steel products. In this application, the Biased Sampling solutions provided an estimate of the inventory investment savings to be obtained from a major capital investment proposal. The problem structure, the development of biasing procedures to guide the solution process, and the computational results are presented.

Date: 1977
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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:23:y:1977:i:12:p:1295-1306

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