An inverse problem in estimating unknown parameters of a deterministic inventory model with price-dependent demand
by Hsi-Mei Chen
International Journal of Operational Research (IJOR), Vol. 11, No. 2, 2011

Abstract: An inverse algorithm with Levenberg–Marquardt method is developed in the present study to estimate the unknown parameters that were used in a deterministic inventory model for an item with price-dependent demand from the observed inventory levels at some specific time. The inverse calculations are performed based on the simulated exact and inexact observed inventory levels to show the validity of this study, moreover, the statistical analysis is also examined here to determine the standard deviation for the estimated parameters. Results show that the standard deviation of the estimated parameters is decreased as the number of observed inventory levels is increased. Moreover, the observation times are also an important factor to the inverse solutions. Improper observed data might result in poor estimations.

Online publication date: Sat, 14-Feb-2015

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Operational Research (IJOR):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com