The Application of the Negative Binomial Distribution to Stock Control Problems
- 1 June 1961
- journal article
- Published by Taylor & Francis in Journal of the Operational Research Society
- Vol. 12 (2) , 81-88
- https://doi.org/10.1057/jors.1961.8
Abstract
Random demand and a gamma distribution of lead times results in a negative binomial distribution of the number of demands during a lead time. This fact, together with a rather surprising mathematical equality, enables one to use tables of the positive binomial distribution to determine reorder levels and also to calculate stocks of rotable components for aircraft.Keywords
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