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How to Determine the Order-up-to Level When Demand is Gamma Distributed with Unknown Parameters

Brekelmans, Ruud; Janssen, E.; Strijbosch, L.W.G. - Tilburg University, Center for Economic Research - 2007

Inventory models need information about the demand distribution. In practice, this information is not known with certainty and has to be estimated with often relatively few historical demand observations. Using these estimates leads to underperformance. This paper focuses on gamma distributed...

Persistent link: https://www.econbiz.de/10011090428

Modified Normal Demand Distributions in (R,S)-Inventory Models

Strijbosch, L.W.G.; Moors, J.J.A. - Tilburg University, Center for Economic Research - 2003

To model demand, the normal distribution is by far the most popular; the disadvantage that it takes negative values is taken for granted.This paper proposes two modi.cations of the normal distribution, both taking non-negative values only.Safety factors and order-up-to-levels for the familiar...

Persistent link: https://www.econbiz.de/10011090825

Exact Fill Rates for (R, s, S) Inventory Control With Gamma Distributed Demand

Moors, J.J.A.; Strijbosch, L.W.G. - Tilburg University, Center for Economic Research - 2001

For the familiar (R; s; S) inventory control system only approximate expressions exist for the fill rate, i.e. the fraction of demand that can be satisfied from stock.Best-known are the approximations derived from renewal theory by Tijms & Groenevelt (1984), holding under specific conditions; in...

Persistent link: https://www.econbiz.de/10011090965

Assessing the Effects of using Demand Parameters Estimates in Inventory Control

Brekelmans, Ruud; Janssen, E.; Strijbosch, L.W.G. - Tilburg University, Center for Economic Research - 2006

Inventory models need some specification of the distribution of demand in order to find the optimal order-up-to level or reorder point.This distribution is unknown in real life and there are several solutions to overcome this problem.One approach is to assume a distribution, estimate its...

Persistent link: https://www.econbiz.de/10011091414

Simple Expressions for Safety Factors in Inventory Control

Strijbosch, L.W.G.; Moors, J.J.A. - Tilburg University, Center for Economic Research - 1999

The literature on inventory control discusses many methods to establish the level of decision parameters -like reorder levels or safety factors-, necessary to attain a prescribed service level. In general, however, these methods are not easy applicable: they often use time-consuming iterations,...

Persistent link: https://www.econbiz.de/10011092568

On the determination of the control parameters of the optimal can-order policy

van Eijs, M.J.G. - Tilburg University, Center for Economic Research - 1993

Persistent link: https://www.econbiz.de/10011092705

Simulating an (R,s,S) Inventory System

Strijbosch, L.W.G.; Moors, J.J.A. - Tilburg University, Center for Economic Research - 2002

Persistent link: https://www.econbiz.de/10011092735

Sample-Path Optimization of Buffer Allocations in a Tandem Queue - Part I : Theoretical Issues

Gürkan, G.; Ozge, A.Y. - Tilburg University, Center for Economic Research - 1996

unreliable machines.We address the theoretical issues that arise when using sample-path optimization, a simulation …-based optimization method, to solve this problem.Sample-path optimization is a recent method to optimize performance functions of …-path optimization method converges almost surely when applied to the bu er allocation problem.Among the properties established …

Persistent link: https://www.econbiz.de/10011090333

Optimal Tax Depreciation Lives and Charges under Regulatory Constraints

De Waegenaere, Anja; Wielhouwer, J.L. - Tilburg University, Center for Economic Research - 2001

Depreciation is not only a representation of the loss in asset-value over time.It is also a strategic tool for management and can be used to minimize tax payments.In this paper we derive the depreciation scheme that minimizes the expected value of the present value of future tax payments for two...

Persistent link: https://www.econbiz.de/10011090373

Intersection theorems with a continuum of intersection points

Talman, Dolf; Herings, P.J.J. - Tilburg University, Center for Economic Research - 1994

In all existing intersection theorems conditions are given under which acertain subset of acollection of sets has a non-empty intersection. In this paper conditions are formulated under which the intersection is a continuum of points satisfying some interesting topological properties. In this...

Persistent link: https://www.econbiz.de/10011090414