FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W2495392847> ?p ?o ?g. }

• W2495392847 abstract "In inventory theory, the typical model assumes the existence of marginal cost data for ordering, holding, and shortages of stock. This paper questions the validity of inventory theory, since it appears to be impossible to measure any of these costs. We conclude that marginal costs would be irrelevant in a more empirical theory, which should concentrate on macrolevel policy analysis rather than microlevel cost minimization. Management Scientists have traditionally been proponents of rationalism in the validation of theory. In the rationalist philosophy, theoretical validity often depends upon premises which are taken for granted as unquestionable truths. Immanuel Kant called these assumptions synthetic a priori premises: We do not need controlled experiments to establish their validity: they are so much the stuff of everyday experience that they have only to be stated to be recognized as obvious (Robbins, 1935). The rationalist philosophy is particularly important in the field of inventory theory, where the typical model is designed to minimize the sum of marginal order ing, holding, and shortage costs for each item in the inventory, without specifying how these costs are to be measured. The premise that relevant cost information can somehow be obtained from the firm's accounting system appears to be almost univer sally accepted, judging from the classic texts in the field (Hadley and Whitin, 1963; Wagner, 1962; Whitin, 1953), the standard Operations Research texts (Hillier and Lieberman, 1974; Wagner, 1975), and the overwhelming number of papers on inven tories published in recent years. This essay urges reconsideration of the rationalist philosophy. The accounting evidence shows that the marginal cost parameters assumed in the theory are virtually impossible to measure. Thus we should question inventory theory on empirical, if not pragmatic, grounds. After a review of the accounting evidence on each category of inventory costs, we conclude that marginal costs would be irrelevant in a more empirical theory, which should be devoted to macrolevel policy analysis rather than microlevel cost minimization." @default.
• W2495392847 created "2016-08-23" @default.
• W2495392847 creator A5091712144 @default.
• W2495392847 date "1980-01-01" @default.
• W2495392847 modified "2023-09-24" @default.
• W2495392847 title "INVENTORY THEORY AND THE GODS OF OLYMPUS" @default.
• W2495392847 cites W1505117108 @default.
• W2495392847 cites W1552417368 @default.
• W2495392847 cites W1965462762 @default.
• W2495392847 cites W1970741704 @default.
• W2495392847 cites W2035900354 @default.
• W2495392847 cites W2041147107 @default.
• W2495392847 cites W2056259946 @default.
• W2495392847 cites W2097873277 @default.
• W2495392847 cites W2295080417 @default.
• W2495392847 cites W2328421397 @default.
• W2495392847 cites W3027073924 @default.
• W2495392847 cites W651845307 @default.
• W2495392847 cites W658318526 @default.
• W2495392847 hasPublicationYear "1980" @default.
• W2495392847 type Work @default.
• W2495392847 sameAs 2495392847 @default.
• W2495392847 citedByCount "0" @default.
• W2495392847 crossrefType "journal-article" @default.
• W2495392847 hasAuthorship W2495392847A5091712144 @default.
• W2495392847 hasConcept C111472728 @default.
• W2495392847 hasConcept C118084267 @default.
• W2495392847 hasConcept C138885662 @default.
• W2495392847 hasConcept C162324750 @default.
• W2495392847 hasConcept C180903884 @default.
• W2495392847 hasConcept C2778023277 @default.
• W2495392847 hasConceptScore W2495392847C111472728 @default.
• W2495392847 hasConceptScore W2495392847C118084267 @default.
• W2495392847 hasConceptScore W2495392847C138885662 @default.
• W2495392847 hasConceptScore W2495392847C162324750 @default.
• W2495392847 hasConceptScore W2495392847C180903884 @default.
• W2495392847 hasConceptScore W2495392847C2778023277 @default.
• W2495392847 hasLocation W24953928471 @default.
• W2495392847 hasOpenAccess W2495392847 @default.
• W2495392847 hasPrimaryLocation W24953928471 @default.
• W2495392847 hasRelatedWork W131913589 @default.
• W2495392847 hasRelatedWork W1467197277 @default.
• W2495392847 hasRelatedWork W1542928958 @default.
• W2495392847 hasRelatedWork W1780876756 @default.
• W2495392847 hasRelatedWork W1829478815 @default.
• W2495392847 hasRelatedWork W1988494543 @default.
• W2495392847 hasRelatedWork W2011046802 @default.
• W2495392847 hasRelatedWork W2019459021 @default.
• W2495392847 hasRelatedWork W2097614924 @default.
• W2495392847 hasRelatedWork W2118333597 @default.
• W2495392847 hasRelatedWork W2142175915 @default.
• W2495392847 hasRelatedWork W2188619101 @default.
• W2495392847 hasRelatedWork W2499071030 @default.
• W2495392847 hasRelatedWork W273357131 @default.
• W2495392847 hasRelatedWork W2784585726 @default.
• W2495392847 hasRelatedWork W2913675463 @default.
• W2495392847 hasRelatedWork W39300020 @default.
• W2495392847 hasRelatedWork W65288949 @default.
• W2495392847 hasRelatedWork W2588434099 @default.
• W2495392847 hasRelatedWork W3018176070 @default.
• W2495392847 isParatext "false" @default.
• W2495392847 isRetracted "false" @default.
• W2495392847 magId "2495392847" @default.
• W2495392847 workType "article" @default.