Loss resulting from the use of incorrect data in computing an optimal inventory policy

Joel Levy

Naval Research Logistics Quarterly, 1958, vol. 5, issue 1, 75-81

Abstract: Extensive work has been done in deriving the optimum inventory policy for various models based on different assumptions. The following is an attempt to find the cost consequences for two such models of executing a policy computed from erroneous data. Part I treats a case of certain demand. Part II treats a case of demand being a uniformly distributed random variable.

Date: 1958
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https://doi.org/10.1002/nav.3800050107

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Persistent link: https://EconPapers.repec.org/RePEc:wly:navlog:v:5:y:1958:i:1:p:75-81

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