## A comparative analysis of the Bayes inventory policyClearinghouse for Federal Scientific and Technical Information, 1961 - Business & Economics - 56 pages |

### What people are saying - Write a review

We haven't found any reviews in the usual places.

### Contents

TECHNICAL BACKGROUND | 4 |

THE CASE RUNS | 9 |

RESULTS OF THE SIMULATION | 12 |

1 other sections not shown

### Common terms and phrases

assumptions Bayes approach Bayes High-Confidence BAYES INVENTORY POLICY Bayes policy appears Bayes policy costs BISTIMATED calculation of functions Clearinghouse Comparison of Dynamic Comparison of Policy conservatism cost is high cost to unit Costs Estimated Mean COSTS--CASE 1 ESTIMATED COSTS--CASE 9 ESTIMATED demand distributions demand is underestimated Demand Per Period dynamic programming calculation dynamic programming policy dynamic programming recomputation estimated mean demand family of demand future demand Gamma distribution Gamma family Herbert Scarf high-confidence Bayes initial estimated mean initial guess initial provisioning Inventory Problem mand overestimated parameters parametric family past observed demands policies were computed Policy Costs Estimated Policy Costs--Case priori distribution probability distribution program length programming recomputation policy programming recomputation procedure Programming with Recomputation purchase cost putation recom Recomputation and Bayes SC/UC Scientific Abstracts set of graphs setup cost shortage cost simulation single variable straight dynamic programming TECHNICAL INFORMATION total cost true mean demand U.S. Government unit cost ratio