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Inventory Service-Level Measures: Convexity and Approximation

Author

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  • Paul Zipkin

    (Graduate School of Business, Columbia University, New York, New York 10027)

Abstract

We argue that standard approximations for two often-used inventory service-level measures may perform poorly in many situations. Then we confirm the long-standing conjecture that the (relatively) exact formulas for these quantities are convex functions of the relevant control variables. Both results suggest the exact expressions should be seriously considered in practical work.

Suggested Citation

  • Paul Zipkin, 1986. "Inventory Service-Level Measures: Convexity and Approximation," Management Science, INFORMS, vol. 32(8), pages 975-981, August.
    • Handle: RePEc:inm:ormnsc:v:32:y:1986:i:8:p:975-981
    DOI: 10.1287/mnsc.32.8.975
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