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Parameter estimation and performance measurement in lost sales inventory systems

✍ Scribed by Roger M. Hill


Publisher
Elsevier Science
Year
1992
Tongue
English
Weight
414 KB
Volume
28
Category
Article
ISSN
0925-5273

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✦ Synopsis


In most retail environments the only information available on customer demand comes from sales data. When a product is out of stock there is generally no knowledge of what potential sales have been lost. This creates problems when it comes to estimating (forecasting) the demand distribution and its parameters. This paper looks at this problem and considers ways of overcoming it, in particular making use of data captured by modem point of sale systems.


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