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Stock Rationing

Author

Listed:
  • Alan Kaplan

    (Inventory Research Office US Army Lugistis Management Center)

Abstract

A supplier may distinguish between the demands be receives for an item, attaching greater importance to satisfying some categories of demand than others. This paper discusses use of reserve levels, i. e, stock levels at which to stop issuing in response to lower priority demand. An algorithm which calculates optimum reserve levels is developed. Its effectiveness is compared to use of unsophisticated policies.

Suggested Citation

  • Alan Kaplan, 1969. "Stock Rationing," Management Science, INFORMS, vol. 15(5), pages 260-267, January.
    • Handle: RePEc:inm:ormnsc:v:15:y:1969:i:5:p:260-267
    DOI: 10.1287/mnsc.15.5.260
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    Citations

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    Cited by:

    1. Sridharan, Sri V., 1998. "Managing capacity in tightly constrained systems," International Journal of Production Economics, Elsevier, vol. 56(1), pages 601-610, September.
    2. R. Dekker & R.M. Hill & M.J. Kleijn & R.H. Teunter, 2002. "On the (S − 1, S) lost sales inventory model with priority demand classes," Naval Research Logistics (NRL), John Wiley & Sons, vol. 49(6), pages 593-610, September.
    3. Teunter, Ruud H. & Klein Haneveld, Willem K., 2008. "Dynamic inventory rationing strategies for inventory systems with two demand classes, Poisson demand and backordering," European Journal of Operational Research, Elsevier, vol. 190(1), pages 156-178, October.
    4. Du, Bisheng & Larsen, Christian, 2017. "Reservation policies of advance orders in the presence of multiple demand classes," European Journal of Operational Research, Elsevier, vol. 256(2), pages 430-438.
    5. Pinto, Roberto, 2012. "Stock rationing under service level constraints in a vertically integrated distribution system," International Journal of Production Economics, Elsevier, vol. 136(1), pages 231-240.
    6. Dekker, R. & Kleijn, M. J. & de Rooij, P. J., 1998. "A spare parts stocking policy based on equipment criticality," International Journal of Production Economics, Elsevier, vol. 56(1), pages 69-77, September.
    7. P Melchiors & R Dekker & M J Kleijn, 2000. "Inventory rationing in an (s, Q) inventory model with lost sales and two demand classes," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 51(1), pages 111-122, January.
    8. Alfieri, Arianna & Pastore, Erica & Zotteri, Giulio, 2017. "Dynamic inventory rationing: How to allocate stock according to managerial priorities. An empirical study," International Journal of Production Economics, Elsevier, vol. 189(C), pages 14-29.
    9. Samii, Amir-Behzad & Pibernik, Richard & Yadav, Prashant & Vereecke, Ann, 2012. "Reservation and allocation policies for influenza vaccines," European Journal of Operational Research, Elsevier, vol. 222(3), pages 495-507.
    10. Hung, Yi-Feng & Hsiao, Jui-Yi, 2013. "Inventory rationing decision models during replenishment lead time," International Journal of Production Economics, Elsevier, vol. 144(1), pages 290-300.
    11. Samii, Amir-Behzad & Pibernik, Richard & Yadav, Prashant, 2011. "An inventory reservation problem with nesting and fill rate-based performance measures," International Journal of Production Economics, Elsevier, vol. 133(1), pages 393-402, September.
    12. FadIloglu, Mehmet Murat & Bulut, Önder, 2010. "A dynamic rationing policy for continuous-review inventory systems," European Journal of Operational Research, Elsevier, vol. 202(3), pages 675-685, May.
    13. Tempelmeier, Horst, 2006. "Supply chain inventory optimization with two customer classes in discrete time," European Journal of Operational Research, Elsevier, vol. 174(1), pages 600-621, October.
    14. Liu, Shudong & Song, Miao & Tan, Kok Choon & Zhang, Changyong, 2015. "Multi-class dynamic inventory rationing with stochastic demands and backordering," European Journal of Operational Research, Elsevier, vol. 244(1), pages 153-163.
    15. Chang, Pao-Long & Chou, Ying-Chyi & Huang, Ming-Guang, 2005. "A (r,r,Q) inventory model for spare parts involving equipment criticality," International Journal of Production Economics, Elsevier, vol. 97(1), pages 66-74, July.
    16. Ayanso, Anteneh & Diaby, Moustapha & Nair, Suresh K., 2006. "Inventory rationing via drop-shipping in Internet retailing: A sensitivity analysis," European Journal of Operational Research, Elsevier, vol. 171(1), pages 135-152, May.
    17. Kleijn, M.J. & Dekker, R., 1998. "An overview of inventory systems with several demand classes," Econometric Institute Research Papers EI 9838, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
    18. Hung, Yi-Feng & Lee, Tzu-Yuan, 2010. "Capacity rationing decision procedures with order profit as a continuous random variable," International Journal of Production Economics, Elsevier, vol. 125(1), pages 125-136, May.

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