LOW DEMAND INVENTORY MODELS.
Abstract
A set of detailed mathematical models is developed for items that are demanded one at a time at a low rate of demand (say, up to ten per year). It is assumed that their is a long period of time during which the average demand does not vary substantially. Units of stock are ordered one at a time as demanded and are carried in a system consisting of depots which may accept demands for stock. The mathematical models provide a basis for determining (1) the optimum amount of stock for the system to carry, (2) the optimum number of carrying points for stock, (3) the best mode of transportation from the supplier to the carrying points, and (4) efficient rules for selecting the carrying point to receive an allocation from the suppliers and for determining redistributions between depots. (Author)
Document Details
- Document Type
- Technical Report
- Publication Date
- Jul 01, 1961
- Accession Number
- AD0415730