International Journal of Production Economics. Aug2008, Vol. 114 Issue 2, p811-819. 9p.
RAPID prototyping, PRODUCT management, INDUSTRIAL research, NEW product development, INVENTORY control, BUSINESS logistics, INVENTORY management systems, and MANAGEMENT
Abstract: It is common sense that the premises usually considered in inventory models have little applicability to new product inventory management. This paper develops a first practical approach to deal with this issue: the solution to the (Q, r) inventory model for uniform demand forecasts and lead-times. Based on the fact that the uniform distribution is defined by two parameters that are easy to estimate—maximum and minimum—this paper shows that such a premise may comprise a helpful and accurate decision support tool for managers until they begin to learn about the distribution characteristics of the demand during the lead-time. [Copyright &y& Elsevier]