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Inequalities with application in retail inventory analysis

Published online by Cambridge University Press:  14 July 2016

Robert A. Agnew
Robert A. Agnew*
Affiliation:
Montgomery Ward & Co., Chicago, Illinois
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Abstract

Simple bounds on service level and turnover velocity are obtained for a periodic-review inventory system with a stationary order-up-to-level stocking policy and no backordering. Exact computational formulas are given for Poisson demand. An illustrative numerical example is presented, and the application of these bounds to retail inventory analysis is discussed.

Keywords

SERVICE LEVELTURNOVER VELOCITYRETAIL INVENTORY ANALYSISPOISSON DEMAND

Information

Type
Short Communications
Information
Journal of Applied Probability , Volume 12 , Issue 4 , December 1975, pp. 852 - 858
Copyright
Copyright © Applied Probability Trust 1975 

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References

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