A SYSTEM APPROACH TO BASIC STOCKAGE OF RECOVERABLE ITEMS,

Abstract

The concluding Memorandum in a series (AD-605 515, -613 470, -615 261) describing a system approach to setting base stock levels on recoverable items. Application of the system approach is demonstrated and its advantages indicated: (1) a Bayesian procedure, using data on all items in the supply system, to provide improved demand estimates for individual items; (2) a system cost-effectiveness curve displaying realistic alternatives; (3) a mechanism for examining sensitivity to parameter changes; and (4) comparison of different stockage policies. (Author)

Document Details

Document Type
Technical Report
Publication Date
Dec 01, 1965
Accession Number
AD0627644

Entities

People

  • C. C. Sherbrooke
  • G. J. Feeney

Organizations

  • RAND Corporation

Tags

DTIC Thesaurus Topics

  • Cost Effectiveness
  • Costs

Fields of Study

  • Computer science

Readers

  • Business Analytics
  • Computational Modeling and Simulation
  • Logistics and Supply Chain Management.

Technology Areas

  • AI & ML
  • AI & ML - Bayesian Inference