Determination of safety stocks in a lost sales inventory system with periodic review, positive lead-time, lot-sizing and a target fill rate
Author
Abstract
Suggested Citation
DOI: 10.1016/j.ijpe.2011.05.020
Download full text from publisher
As the access to this document is restricted, you may want to search for a different version of it.
References listed on IDEAS
- Hill, Roger M., 1992. "Numerical analysis of a continuous-review lost-sales inventory model where two orders may be outstanding," European Journal of Operational Research, Elsevier, vol. 62(1), pages 11-26, October.
- Johansen, Soren Glud & Hill, Roger M., 2000. "The (r,Q) control of a periodic-review inventory system with continuous demand and lost sales," International Journal of Production Economics, Elsevier, vol. 68(3), pages 279-286, December.
- Tijms, H. C. & Groenevelt, H., 1984. "Simple approximations for the reorder point in periodic and continuous review (s, S) inventory systems with service level constraints," European Journal of Operational Research, Elsevier, vol. 17(2), pages 175-190, August.
- Hill, Roger M., 1994. "Continuous review lost sales inventory models where two orders may be outstanding," International Journal of Production Economics, Elsevier, vol. 35(1-3), pages 313-319, June.
- van Donselaar, Karel & de Kok, Ton & Rutten, Werner, 1996. "Two replenishment strategies for the lost sales inventory model: A comparison," International Journal of Production Economics, Elsevier, vol. 46(1), pages 285-295, December.
- Steven Nahmias, 1979. "Simple Approximations for a Variety of Dynamic Leadtime Lost-Sales Inventory Models," Operations Research, INFORMS, vol. 27(5), pages 904-924, October.
- Helmut Schneider & Jeffrey L. Ringuest, 1990. "Power Approximation for Computing (s, S) Policies Using Service Level," Management Science, INFORMS, vol. 36(7), pages 822-834, July.
- Richard Ehrhardt, 1979. "The Power Approximation for Computing (s, S) Inventory Policies," Management Science, INFORMS, vol. 25(8), pages 777-786, August.
- Kranenburg, A.A. & van Houtum, G.J., 2009. "A new partial pooling structure for spare parts networks," European Journal of Operational Research, Elsevier, vol. 199(3), pages 908-921, December.
- Richard Ehrhardt & Charles Mosier, 1984. "A Revision of the Power Approximation for Computing (s, S) Policies," Management Science, INFORMS, vol. 30(5), pages 618-622, May.
- Paul Zipkin, 2008. "Old and New Methods for Lost-Sales Inventory Systems," Operations Research, INFORMS, vol. 56(5), pages 1256-1263, October.
- Hill, Roger M. & Johansen, Soren Glud, 2006. "Optimal and near-optimal policies for lost sales inventory models with at most one replenishment order outstanding," European Journal of Operational Research, Elsevier, vol. 169(1), pages 111-132, February.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Zolfagharinia, Hossein & Hafezi, Maryam & Farahani, Reza Zanjirani & Fahimnia, Behnam, 2014. "A hybrid two-stock inventory control model for a reverse supply chain," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 67(C), pages 141-161.
- Barros, Júlio & Cortez, Paulo & Carvalho, M. Sameiro, 2021. "A systematic literature review about dimensioning safety stock under uncertainties and risks in the procurement process," Operations Research Perspectives, Elsevier, vol. 8(C).
- Zied Bahroun & Nidhal Belgacem, 2019. "Determination of dynamic safety stocks for cyclic production schedules," Operations Management Research, Springer, vol. 12(1), pages 62-93, June.
- Yang, Liu & Liu, Kanglin & Zhang, Juan & Zelbst, Pamela J., 2024. "Inventory management with actual palletized transportation costs and lost sales," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 184(C).
- Janssen, Larissa & Diabat, Ali & Sauer, Jürgen & Herrmann, Frank, 2018. "A stochastic micro-periodic age-based inventory replenishment policy for perishable goods," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 118(C), pages 445-465.
- Gonçalves, João N.C. & Sameiro Carvalho, M. & Cortez, Paulo, 2020. "Operations research models and methods for safety stock determination: A review," Operations Research Perspectives, Elsevier, vol. 7(C).
- Dreyfuss, Michael & Giat, Yahel, 2019. "Allocating spares to maximize the window fill rate in a periodic review inventory system," International Journal of Production Economics, Elsevier, vol. 214(C), pages 151-162.
- Broekmeulen, Rob A.C.M. & van Donselaar, Karel H., 2019. "Quantifying the potential to improve on food waste, freshness and sales for perishables in supermarkets," International Journal of Production Economics, Elsevier, vol. 209(C), pages 265-273.
- Coelho, Leandro C. & Laporte, Gilbert, 2014. "Improved solutions for inventory-routing problems through valid inequalities and input ordering," International Journal of Production Economics, Elsevier, vol. 155(C), pages 391-397.
- Özgün Turgut & Florian Taube & Stefan Minner, 2018. "Data-driven retail inventory management with backroom effect," OR Spectrum: Quantitative Approaches in Management, Springer;Gesellschaft für Operations Research e.V., vol. 40(4), pages 945-968, October.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Bijvank, Marco & Vis, Iris F.A., 2011. "Lost-sales inventory theory: A review," European Journal of Operational Research, Elsevier, vol. 215(1), pages 1-13, November.
- Bijvank, Marco & Bhulai, Sandjai & Tim Huh, Woonghee, 2015. "Parametric replenishment policies for inventory systems with lost sales and fixed order cost," European Journal of Operational Research, Elsevier, vol. 241(2), pages 381-390.
- Hill, Roger M. & Johansen, Soren Glud, 2006. "Optimal and near-optimal policies for lost sales inventory models with at most one replenishment order outstanding," European Journal of Operational Research, Elsevier, vol. 169(1), pages 111-132, February.
- Strijbosch, L.W.G. & Moors, J.J.A., 1999.
"Simple Expressions for Safety Factors in Inventory Control,"
Discussion Paper
1999-112, Tilburg University, Center for Economic Research.
- Strijbosch, L.W.G. & Moors, J.J.A., 1999. "Simple Expressions for Safety Factors in Inventory Control," Other publications TiSEM 2f1bb350-ce71-4adf-beca-b, Tilburg University, School of Economics and Management.
- Bijvank, Marco & Vis, Iris F.A., 2012. "Lost-sales inventory systems with a service level criterion," European Journal of Operational Research, Elsevier, vol. 220(3), pages 610-618.
- Zied Babai, M. & Syntetos, Aris A. & Teunter, Ruud, 2010. "On the empirical performance of (T, s, S) heuristics," European Journal of Operational Research, Elsevier, vol. 202(2), pages 466-472, April.
- Bendre, Abhijit Bhagwan & Nielsen, Lars Relund, 2013. "Inventory control in a lost-sales setting with information about supply lead times," International Journal of Production Economics, Elsevier, vol. 142(2), pages 324-331.
- Erica L. Plambeck & Amy R. Ward, 2007. "Note: A Separation Principle for a Class of Assemble-to-Order Systems with Expediting," Operations Research, INFORMS, vol. 55(3), pages 603-609, June.
- Chiang, Chi, 2006. "Optimal ordering policies for periodic-review systems with replenishment cycles," European Journal of Operational Research, Elsevier, vol. 170(1), pages 44-56, April.
- B S Maddah & M Y Jaber & N E Abboud, 2004. "Periodic review (s, S) inventory model with permissible delay in payments," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 55(2), pages 147-159, February.
- Kim, Eungab & Park, Taeho, 2016. "Admission and inventory control of a single-component make-to-order production system with replenishment setup cost and lead time," European Journal of Operational Research, Elsevier, vol. 255(1), pages 91-102.
- Kleijnen, J.P.C. & Wan, J., 2007. "Optimization of simulated systems : OptQuest and alternatives [also see “Simulation for the optimization of (s, S) inventory system with random lead times and a service level constraint by using Arena," Other publications TiSEM ffaee312-9f6a-4452-9ccc-9, Tilburg University, School of Economics and Management.
- Xiaoming Li, 2015. "Optimal Policies and Bounds for Stochastic Inventory Systems with Lost Sales," Journal of Optimization Theory and Applications, Springer, vol. 164(1), pages 359-375, January.
- E A Silver & H Naseraldin & D P Bischak, 2009. "Determining the reorder point and order-up-to-level in a periodic review system so as to achieve a desired fill rate and a desired average time between replenishments," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 60(9), pages 1244-1253, September.
- van Donselaar, Karel H. & Broekmeulen, Rob A.C.M., 2012. "Approximations for the relative outdating of perishable products by combining stochastic modeling, simulation and regression modeling," International Journal of Production Economics, Elsevier, vol. 140(2), pages 660-669.
- Emre Berk & Ülkü Gürler & Saeed Poormoaied, 2020. "On the $$\varvec{(Q,r)}$$(Q,r) policy for perishables with positive lead times and multiple outstanding orders," Annals of Operations Research, Springer, vol. 284(1), pages 81-98, January.
- Boute, Robert N. & Gijsbrechts, Joren & van Jaarsveld, Willem & Vanvuchelen, Nathalie, 2022. "Deep reinforcement learning for inventory control: A roadmap," European Journal of Operational Research, Elsevier, vol. 298(2), pages 401-412.
- Paul Zipkin, 2008. "On the Structure of Lost-Sales Inventory Models," Operations Research, INFORMS, vol. 56(4), pages 937-944, August.
- Janssen, F.B.S.L.P., 1998. "Inventory management systems : Control and information issues," Other publications TiSEM 710d54d2-5447-4e2f-bb60-0, Tilburg University, School of Economics and Management.
- Janssen, F.B.S.L.P. & Heuts, R.M.J. & de Kok, T., 1996. "The Value of Information in an (R,s,Q) Inventory Model," Other publications TiSEM 4b589d1f-2822-4c0f-9dea-6, Tilburg University, School of Economics and Management.
More about this item
Keywords
Inventory; Lost sales; Safety stock; Fill rate; Approximation; Service level; Dual sourcing;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:proeco:v:143:y:2013:i:2:p:440-448. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/ijpe .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.