Technical Note—Comments on the Distribution of Inventory Position in a Continuous-Review ( s, S ) Inventory System

F. R. Richards
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F. R. Richards: Naval Postgraduate School, Monterey, California

Operations Research, 1975, vol. 23, issue 2, 366-371

Abstract: This paper comments on the limiting distribution of the inventory position in a continuous-review ( s , S ) inventory system with arbitrary customer interarrival-time distribution. The limiting distribution is derived for the general case in which the demand quantity is random. We show that the limiting distribution is uniform on ( s + 1, …, S ) if and only if units are demanded one at a time. However, with a slight modification of the procurement policy, the uniform distribution is recaptured even with random demand quantities.

Date: 1975
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