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A Table for Determining the Probability of a Stock out and Potential Lost Sales for a Gamma Distributed Demand
Authors:T A Burgin  J M Norman
Institution:1.Dunlop Ltd.,;2.University of Lancaster,
Abstract:A table is given for determining the probability of a stock out and potential lost sales for a gamma distribution of demand. In addition to general applicability it is shown that the table enables a fundamental equation in inventory theory associated with the problem of minimizing the total cost of holding stock to be solved approximately.
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