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Author Wanke, P.; Ewbank, H.; Leiva, V.; Rojas, F.
Title Inventory management for new products with triangularly distributed demand and lead-time Type
Year 2016 Publication Computers & Operations Research Abbreviated Journal Comput. Oper. Res.
Volume 69 Issue Pages 97-108
Keywords Approximation of functions; Bisection method; Kernel method; Kullback-Leibler divergence; Monte Carlo method; (Q, r) model; R software; Statistical distributions
Abstract This paper proposes a computational methodology to deal with the inventory management of new products by using the triangular distribution for both demand per unit time and lead-time. The distribution for demand during lead-time (or lead-time demand) corresponds to the sum of demands per unit time, which is difficult to obtain. We consider the triangular distribution because it is useful when a distribution is unknown due to data unavailability or problems to collect them. We provide an approach to estimate the probability density function of the unknown lead-time demand distribution and use it to establish the suitable inventory model for new products by optimizing the associated costs. We evaluate the performance of the proposed methodology with simulated and real-world demand data. This methodology may be a decision support tool for managers dealing with the measurement of demand uncertainty in new products. (C) 2015 Elsevier Ltd. All rights reserved.
Address [Wanke, Peter; Ewbank, Henrique] Univ Fed Rio de Janeiro, COPPEAD Grad Sch Business, BR-21941 Rio De Janeiro, Brazil, Email: victorleivasanchez@gmail.com
Corporate Author Thesis
Publisher Pergamon-Elsevier Science Ltd Place of Publication Editor
Language English Summary Language Original Title
Series Editor Series Title Abbreviated Series Title
Series Volume Series Issue Edition
ISSN 0305-0548 ISBN Medium
Area Expedition Conference
Notes WOS:000370908300009 Approved
Call Number UAI @ eduardo.moreno @ Serial 586
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