TIME-SHARING INVENTORY ANALYSIS (RCTVIC13).
Abstract
Despite the abundance of literature concerned with inventory theory, there remains a disturbing gap between the theory and its application. This gap is created by the inability of straight mathematical analysis to answer all relevant questions preceding acceptance of new approaches. For this reason, it is imperative that the analyst find additional means to assess the implications to the existing inventory system of the formulae derived from his mathematical model. The computer routine, entitled RCTVIC13, which is programmed in BASIC on the RADC 645 Time-Sharing System, provides the analyst and manager with a powerful analytical tool to make just such analyses. The design of inventory policies is facilitated by, and measurement of the performance of the policies necessitates, precise definition of 'measure of effectiveness.' Unfortunately, there is a lack of unanimity at this time as to the preferred measure. It is for this reason that RCTVIC13, for a given safety level dollar investment, examines five safety level policies in terms of four measures of effectiveness. RCTVIC13 is structured such that the user (analyst or manager) may also vary any or all of the parameters which describe his inventory system.
Document Details
- Document Type
- Technical Report
- Publication Date
- Jun 01, 1970
- Accession Number
- AD0707096
Entities
People
- Richard C. Trepp
- Victor J. Presuitt Jr