The uniform distribution as a first practical approach to new product inventory management

  • Wanke P
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Abstract

It is common sense that the premises usually considered in inventory models have little applicability to new product inventory management. This paper develops a first practical approach to deal with this issue: the solution to the (Q, r) inventory model for uniform demand forecasts and lead-times. Based on the fact that the uniform distribution is defined by two parameters that are easy to estimate-maximum and minimum-this paper shows that such a premise may comprise a helpful and accurate decision support tool for managers until they begin to learn about the distribution characteristics of the demand during the lead-time. © 2008 Elsevier B.V. All rights reserved.

Author-supplied keywords

  • (Q
  • Inventory management
  • New products
  • Uniform distribution
  • r) model

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