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Approximate Solution to the (Q, r) Inventory Model for Gamma Lead Time Demand

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  • Chandrasekhar Das

    (University of Saskatchewan)

Abstract

An approximate analytical method for solving the (Q, r) model when lead time demand is Gamma distributed is discussed. The method is quite accurate and requires less input than the familiar iterative method.

Suggested Citation

  • Chandrasekhar Das, 1976. "Approximate Solution to the (Q, r) Inventory Model for Gamma Lead Time Demand," Management Science, INFORMS, vol. 22(9), pages 1043-1047, May.
    • Handle: RePEc:inm:ormnsc:v:22:y:1976:i:9:p:1043-1047
    DOI: 10.1287/mnsc.22.9.1043
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    Cited by:

    1. Strijbosch, L.W.G. & Heuts, R.M.J., 1994. "Investigating several alternatives for estimating the lead time demand distribution in a continuous review inventory model," Other publications TiSEM dc1f886c-0122-4da9-9598-8, Tilburg University, School of Economics and Management.
    2. Amílcar Oliveira & Teresa Oliveira & Antonio Seijas-Macías, 2018. "The uniform distribution product: an approach to the inventory model using R," Journal of Applied Statistics, Taylor & Francis Journals, vol. 45(2), pages 284-297, January.
    3. S. Hemapriya & R. Uthayakumar, 2017. "An inventory model with uncertain demand and lost sales reduction under service level constraint," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 8(2), pages 1399-1418, November.
    4. Zhaohui Zeng, Amy & Hayya, Jack C., 1999. "The performance of two popular service measures on management effectiveness in inventory control," International Journal of Production Economics, Elsevier, vol. 58(2), pages 147-158, January.
    5. Wanke, Peter F., 2008. "The uniform distribution as a first practical approach to new product inventory management," International Journal of Production Economics, Elsevier, vol. 114(2), pages 811-819, August.
    6. Hariga, Moncer & Ben-Daya, Mohamed, 1999. "Some stochastic inventory models with deterministic variable lead time," European Journal of Operational Research, Elsevier, vol. 113(1), pages 42-51, February.
    7. Strijbosch, L.W.G. & Heuts, R.M.J., 1991. "Investigating several alternatives for estimating the compound lead time demand in an (s,Q) inventory model," Other publications TiSEM 8e8edd3d-73ef-4203-a037-e, Tilburg University, School of Economics and Management.
    8. Mahmut Parlar & Defne Berkin, 1991. "Future supply uncertainty in EOQ models," Naval Research Logistics (NRL), John Wiley & Sons, vol. 38(1), pages 107-121, February.
    9. Vernimmen, Bert & Dullaert, Wout & Willemé, Peter & Witlox, Frank, 2008. "Using the inventory-theoretic framework to determine cost-minimizing supply strategies in a stochastic setting," International Journal of Production Economics, Elsevier, vol. 115(1), pages 248-259, September.
    10. Konur, Dinçer & Campbell, James F. & Monfared, Sepideh A., 2017. "Economic and environmental considerations in a stochastic inventory control model with order splitting under different delivery schedules among suppliers," Omega, Elsevier, vol. 71(C), pages 46-65.
    11. Park, Changkyu, 2007. "An analysis of the lead time demand distribution derivation in stochastic inventory systems," International Journal of Production Economics, Elsevier, vol. 105(1), pages 263-272, January.

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