National Research Database of Zimbabwe

Single Period Inventory Models for Products whose Demand Follows Compound Distributions

Jaison, Absolom (2005) Single Period Inventory Models for Products whose Demand Follows Compound Distributions. UNSPECIFIED thesis, UNSPECIFIED.

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Abstract

Up to this point, the Single Period Inventory models developed have focused on a product whose demand distribution in a single period is some simple classical distribution like the normal distribution, log-normal distribution, etc. These models are silent on the fact that the number of customers visiting a retail outlet to demand the product is a random variable with some probability distribution, typically the Poison distribution (for this project). In this thesis, a model that assumes that the number of customers visiting a retail outlet during a single period is Poison distributed is developed; each customer's demand for the product in turn is assumed to be a random variable X that follows some known distribution D ( è ), where è is the parametric vector for the distribution.

Item Type: Thesis (UNSPECIFIED)
Uncontrolled Keywords: probability distribution,inventory models,single-period inventory models,models
Subjects: UNSPECIFIED
Divisions: Universities > State Universities > University of Zimbabwe
Depositing User: Mr. Evans Katiyo
Date Deposited: 07 Dec 2015 00:31
Last Modified: 07 Dec 2015 00:31
URI: http://researchdatabase.ac.zw/id/eprint/1547

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