08600843 is referenced by 5 patents and cites 55 patents.

A method or a machine determines minimum (s) and maximum (S) inventory control levels (s, S) for inventory items based upon a demand history of the inventory items, such as demand inter-arrival times (IA) and demand requisition sizes (RS). An expected cost is computed including two or more inventory item cost components of expected cost of ordering, expected cost of carrying inventory, or expected cost of outstanding backorders for the inventory control levels (s, S), directly from frequency statistics of different demand IA and demand RS on an inventory item basis. An optimal inventory control level (s, S) of an inventory item is searched that minimizes the cost of ordering, carrying inventory, and/or backorders, based upon the generated expected cost.

Title
Method and computer system for setting inventory control levels from demand inter-arrival time, demand size statistics
Application Number
13/236143
Publication Number
8600843 (B2)
Application Date
September 19, 2011
Publication Date
December 3, 2013
Inventor
John Westbrook
Reston
VA, US
Joel Lepak
Arlington
VA, US
Karl Kruse
Akron
OH, US
Tovey C Bachman
McLean
VA, US
Agent
Staas & Halsey
Assignee
Logistics Management Institute
VA, US
IPC
G06Q 10/08
G06Q 10/06
G06Q 10/00
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