A Bayesian Approach to the Two-period Style-goods Inventory Problem with Single Replenishment and Heterogeneous Poisson Demands
作者:
BradfordJohn W.,
SugruePaul K.,
期刊:
Journal of the Operational Research Society
(Taylor Available online 1990)
卷期:
Volume 41,
issue 3
页码: 211-218
ISSN:0160-5682
年代: 1990
DOI:10.1057/jors.1990.37
出版商: Taylor&Francis
关键词: forecasting;inventory;statistics
数据来源: Taylor
摘要:
AbstractThis paper presents a model of the two-period style-goods inventory problem for a firm which stocks many hundreds of distinctive items having heterogeneous Poisson demands. The model uses a Bayesian procedure for forecast and probability revisions based on an aggregation-by-items scheme. These revised forecasts are then incorporated into a model which is used to derive the optimal inventory-stocking policies which maximize expected profit during the season. The model is illustrated using an actual case study of inventory planning for unframed poster art.
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