Abstract
In this paper we provide necessary and sufficient conditions for the distribution of demand in the future to be stochastically increasing in the demand that has been observed in the past. We base our analysis on the multiperiod inventory model examined by Eppen and Iyer (1997). In the process of establishing the necessary and sufficient conditions we develop a new property called the sequential monotone likelihood ratio property.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 478-486 |
| Number of pages | 9 |
| Journal | Operations Research |
| Volume | 52 |
| Issue number | 3 |
| DOIs | |
| State | Published - May 2004 |
| Externally published | Yes |
Keywords
- Forecasting: Applications
- Inventory/production: Policies
- Probability: Distribution comparisons
- Stochastic model applications
ASJC Scopus subject areas
- Computer Science Applications
- Management Science and Operations Research