Characterising the frequency of orders received by a stockist

Shale, E, Boylan, John and Johnston, F R (2008) Characterising the frequency of orders received by a stockist. IMA Journal of Management Mathematics, 19. pp. 137-143. ISSN 1471-678X

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Abstract

It is regularly asserted that the frequency of orders received by a stockist can be represented as a Poisson process, but very little corroborative evidence has been published. This paper presents some results supporting the assumption. An adaptation to the standard testing methodology is presented which overcomes the complications arising for the necessity of sampling for time series data. The new approach is applied to a large range of stock-keeping units. Except for the extreme tail of the distribution, which is of little interest for most inventory applications, it is found that the frequency of orders is well represented by a Poisson process.

Item Type: Article
Divisions: ?? BucksNewUniversity ??
Depositing User: ULCC Admin
Date Deposited: 24 Jul 2012 15:11
Last Modified: 11 Dec 2017 19:20
URI: http://bucks.repository.guildhe.ac.uk/id/eprint/9866

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