Statistical Problems in Inventory Control.

Abstract : As part of the on-going research program in 'Decision Control Models in Operations Research', this work has investigated the behavior of multi-item inventory control systems in which the underlying demand distributions are estimated from a limited sample of historical observations. Particular stress is placed on evaluating how well simple-to-use replenishment rules operate in an uncertain environment. The research approach employes both mathematical analysis and time series methods for computer simulations.