Abstract
In this paper a mathematical definition of the input-weighted average lead-time for a general continuous inventory function is introduced. It is theoretically shown that the input-weighted average lead-time is equal to the ratio of average inventory to average input, or equivalently, average inventory to average output.
| Original language | English |
|---|---|
| Pages (from-to) | 354-357 |
| Number of pages | 4 |
| Journal | European Journal of Operational Research |
| Volume | 164 |
| Issue number | 2 |
| DOIs | |
| Publication status | Published - 16 Jul 2005 |
Keywords
- Funnel model
- Inventory
- Lead-time
- Little's Law
- Work in progress