Description of the Computer Program for Aggregate Base Stockage Policy of Recoverable Items

by John Y. Lu, Gabriele A. Michels

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A description of a computer program to calculate stock levels across a set of recoverable items which are generally characterized by high unit cost and low demand. The inventory policy followed is to reorder a unit whenever one is demanded. The assumed demand distribution is a stuttering Poisson while the distribution of response time is arbitrary, since only the mean response time needs to be known. The technique of Bayesian inference is used for demand prediction. Included with the program (written in FORTRAN IV) is a description of the structuring of the entire program, flow charts, a definition of the variables, and a listing of the source program.

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