Optimal linear inventory control and first order exponential smoothing
DM Landi, BMK Johnson - Operations Research, 1967 - pubsonline.informs.org
DM Landi, BMK Johnson
Operations Research, 1967•pubsonline.informs.orgA linear, fixed-interval stock replenishment policy that achieves an optimal cost balance
between inventory and order-level variances is derived in this paper. The reorder rule relies
on an exponentially weighted moving average to smooth random components of the
demand sequence, which are assumed to be pairwise uncorrelated with mean zero and
variance that either grows or decays geometrically, or remains constant in time.
between inventory and order-level variances is derived in this paper. The reorder rule relies
on an exponentially weighted moving average to smooth random components of the
demand sequence, which are assumed to be pairwise uncorrelated with mean zero and
variance that either grows or decays geometrically, or remains constant in time.
A linear, fixed-interval stock replenishment policy that achieves an optimal cost balance between inventory and order-level variances is derived in this paper. The reorder rule relies on an exponentially weighted moving average to smooth random components of the demand sequence, which are assumed to be pairwise uncorrelated with mean zero and variance that either grows or decays geometrically, or remains constant in time.
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