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Deterministic inventory control models

05.07.2013 09:55

Deterministic inventory control models

1) An inventory control system where all the variables and parameters used are known, or can be calculated with certainty.

The rate of demand for items, and the associated inventory costs, are assumed to be known with assurance and the replenishment lead time is assumed to be constant and independent of demand. (Source: ILT Supply-Chain Inventory Management SIG)

Source: David Lowe. The Dictionary of Transport and Logistics. Kogan Page, 2002. – P.64 (288 p.)




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