Cover: An Objective Bayes Approach for Inventory Decisions
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An Objective Bayes Approach for Inventory Decisions

by G. J. Feeney, Craig C. Sherbrooke

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A mathematical foundation for applying Bayesian analysis to inventory decision problems. The Memorandum presents an example in which significant differences were obtained when the Bayesian technique was compared to the conventional issue rate technique for recoverable item demand prediction.

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