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The effect of demand distributions on the performance of inventory policies

  1. Sonja Kuhnt Fakultät Statistik, Technische Universität Dortmund
  2. Wiebke Sieben Fakultät Statistik, Technische Universität Dortmund

Abstract

Inventory policies provide instructions on how to calculate stock levels and order quantities. This paper examines the effect of the demand distribution on the performance of several well-known policies. Their performance is compared in terms of achieved service levels. As a conclusion from these comparisons, a nonparametric demand model is proposed to be used in inventory policies.

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Any party may pass on this Work by electronic means and make it available for download under the terms and conditions of the Digital Peer Publishing License. The text of the license may be accessed and retrieved at http://www.dipp.nrw.de/lizenzen/dppl/dppl/DPPL_v2_en_06-2004.html.

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