The logarithmic Poisson gamma distribution: A model for leadtime demand. (English) Zbl 0538.90022
Summary: This paper considers an inventory system in which demand occurrences arise according to a stationary Poisson process, demand sizes at each occurrence follow a logarithmic distribution, and leadtimes are random variables with the gamma distribution. Both the exact and approximate distribution for leadtime demand are derived an computations are performed which compare the approximation to the exact distribution. The results have application to both repairable and consumable item inventory systems.
MSC:
| 90B05 | Inventory, storage, reservoirs |
Keywords:
stationary Poisson demand process; random leadtimes; logarithmic demand size distribution; inventory system; exact and approximate distribution for leadtime demandReferences:
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