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Home » Supply Chain and Operations Management Glossary (L)

Supply Chain and Operations Management Glossary (L)

Lanchester equations: a pair of differential equations that describe the losses incurred by two competitors or combat forces as a function of their sizes. In discrete time, if the size of the two forces in period t are At and Dt and K, r, and s are parameters, then: At+1 = At – KAt rDt s, and Dt+1 = Dt – KDt rAt s. Typical cases are a) r = s = 1, and b) r =0, s = 1. Parameter K corresponds approximately to a probability of success. Either case illustrates the importance of concentrating one’s efforts. The essence of…

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