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A note on lead-time paradoxes and a tale of competing prescriptions

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  • Tyworth, John E.

Abstract

•The mean–variance approach is the primary source of lead-time paradoxes.•A richer theoretical foundation reveals new insights and resolves competing prescriptions.•Positively-correlated lead-time parameters effectively eliminate paradoxes.•Intuitive guidelines apply, regardless of the paradoxes and competing prescriptions.•Contrary to popular research findings, prescriptions from a normal approximation are valid.

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  • Tyworth, John E., 2018. "A note on lead-time paradoxes and a tale of competing prescriptions," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 109(C), pages 139-150.
    • Handle: RePEc:eee:transe:v:109:y:2018:i:c:p:139-150
    DOI: 10.1016/j.tre.2017.11.006
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    3. Minken, Harald & Johansen, Bjørn Gjerde, 2019. "A logistics cost function with explicit transport costs," Economics of Transportation, Elsevier, vol. 19(C), pages 1-1.

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