PROBABILISTIC INVENTORY CONTROL
\pɹˌɒbəbɪlˈɪstɪk ˈɪnvəntɹˌi kəntɹˈə͡ʊl], \pɹˌɒbəbɪlˈɪstɪk ˈɪnvəntɹˌi kəntɹˈəʊl], \p_ɹ_ˌɒ_b_ə_b_ɪ_l_ˈɪ_s_t_ɪ_k ˈɪ_n_v_ə_n_t_ɹ_ˌi k_ə_n_t_ɹ_ˈəʊ_l]\
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A method that has its basis in the assumption of a relatively constant demand over time for inventory items. As such, the probability distribution of the demand is determinable, especially during the lead time for replenishment.
By Henry Campbell Black
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Nearby Words
- probabiliorism
- probabiliorist
- probabilism
- probabilist
- probabilistic
- PROBABILISTIC INVENTORY CONTROL
- probabilistic model
- probabilistic models
- probabilistically
- probabilists
- probabilities