?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.relation=http%3A%2F%2Fmiis.maths.ox.ac.uk%2Fmiis%2F121%2F&rft.title=Inventory+Optimization+using+a+Renewal+Model+for+Sales&rft.creator=Paulhus%2C+Mark&rft.subject=Transport+and+Automotive&rft.subject=Aerospace+and+defence&rft.subject=Finance&rft.description=Any+optimization+requires+a+realistic+and+simple+model+to+predict+future+sales.+The+problem+presenter+had+suggested+that+sales+might+arrive+according+to+a+Poisson+distribution.+We+suggest+that+the+company+look+at+renewal+theory+for+models+of+future+sales+orders.+They+have+some+very+distinct+advantages.+They+are+powerful+and+easy+to+use%2C+in+fact+the+Poisson+distribution+is+a+special+case.+Renewal+models+are+flexible+enough+to+incorporate+a+variety+of+characteristics%2C+such+as+clustering+or+regularity%2C+upward+or+downward+drift%2C+and+mean+reversion.+Also%2C+some+arguments+can+be+made+to+justify+the+renewal+models+based+on+financial+intuition.+A+realistic+(albeit+naive)+problem+is+set+up+which+has+an+analytic+solution+and+other+solution+methods+are+discussed.&rft.date=1998-06-05&rft.type=Study+Group+Report&rft.type=NonPeerReviewed&rft.format=application%2Fpdf&rft.language=en&rft.identifier=http%3A%2F%2Fmiis.maths.ox.ac.uk%2Fmiis%2F121%2F1%2Fboeing2.pdf&rft.identifier=++Paulhus%2C+Mark++(1998)+Inventory+Optimization+using+a+Renewal+Model+for+Sales.++%5BStudy+Group+Report%5D+++++