A Bayesian Approach to Demand Estimation and Inventory Provisioning

Abstract

Often the analysis of demand for spare parts fails to take into consideration the uncertainty of such demand in making inventory procurement and stockage decisions. The model developed in the paper provides for unified treatment of the related problems of statistical estimation of demand and resource allocation within the inventory system. Incorporated in the model are forms of uncertainty such as varying missions, unpredictability of environments and the variety of maintenance procedures and the resulting rates of demand. An application of the model and analysis procedure to a number of parts currently being provisioned for the F-14 is described.

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Document Details

Document Type
Technical Report
Publication Date
Jul 01, 1972
Accession Number
AD0748608

Entities

People

  • George F. Brown Jr.
  • Warren F. Rogers

Organizations

  • Center for Naval Analyses

Tags

Communities of Interest

  • Air Platforms
  • Ground and Sea Platforms

DTIC Thesaurus Topics

  • Aircrafts
  • Classification
  • Computer Programs
  • Deployment
  • Inventory
  • Logistics
  • Maintenance
  • Naval Aviation
  • Probability
  • Probability Distributions
  • Random Variables
  • Reliability
  • Security
  • Spare Parts
  • Statistical Estimation
  • Time Intervals
  • Uncertainty

Readers

  • Adaptive Control and Estimation with Uncertainty in Dynamic Systems.
  • Logistics and Supply Chain Management.

Technology Areas

  • AI & ML
  • AI & ML - Bayesian Inference