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As Simple as Possible but no Simpler-An Inquiry into Approximations for a Re-order Point Inventory Control Model with Gamma-distributed Demand

机译:尽可能简单但不简单-带有伽马分布需求的再订货点库存控制模型的近似值查询

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The basic single item, continuous review, reorder point inventory control model with given order quantities and a fixed lead time is considered. The objective is to minimize inventory holding cost for the safety stock by determining the reorder point subject to a fill-rate constraint. Several approximations have been suggested for this model. Many of them assume that demand during the lead time follows a normal distribution. In this paper, model approximations assuming normal distributions are contrasted with gamma distributed lead-time demand. It is confirmed numerically, that the simplest approximation is quite accurate under some fairly restrictive conditions. However, it is found that considerable errors can be expected when demand uncertainty is increased, especially when the gamma distribution is applied. Fortunately, the more precise model specification with only marginally increased complexity works quite well, also for the gamma distribution.
机译:考虑了基本的单项,连续审查,具有给定订单数量和固定提前期的再订购点库存控制模型。目的是通过确定受填充率约束的重新订购点,以使安全库存的库存持有成本最小化。对于该模型,已经提出了几种近似方法。他们中的许多人认为提前期的需求遵循正态分布。在本文中,假设正态分布的模型近似与伽马分布的交货期需求形成对比。从数值上证实,在某些相当严格的条件下,最简单的逼近是相当准确的。然而,发现当需求不确定性增加时,特别是当应用伽马分布时,可以预期会有相当大的误差。幸运的是,更精确的模型规格(仅稍微增加了复杂度)就可以很好地工作,对于伽马分布也是如此。

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