ESTIMATING STOCK LEVELS IN PERIODIC REVIEW INVENTORY SYSTEMS

Authors
VANDERHEIJDEN MC DEKOK T
Citation
Mc. Vanderheijden et T. Dekok, ESTIMATING STOCK LEVELS IN PERIODIC REVIEW INVENTORY SYSTEMS, Operations research letters, 22(4-5), 1998, pp. 179-182
Citations number
6
Categorie Soggetti
Operatione Research & Management Science","Operatione Research & Management Science
Journal title
Operations research letters → ACNP
ISSN journal
01676377
Volume
22
Issue
4-5
Year of publication
1998
Pages
179 - 182
Database
ISI
SICI code
0167-6377(1998)22:4-5<179:ESLIPR>2.0.ZU;2-8
Abstract
Calculating the mean physical stock in a simple periodic review invent ory system seems to be straightforward. However, the standard approxim ate expressions appear to yield inaccurate results, especially for low service levels. Low service levels are frequently encountered at inte rmediate nodes in cost-optimal solutions for multi-echelon systems. In this note, we present an improved approximate method that is both sim ple and accurate. (C) 1998 Elsevier Science B.V. All rights reserved.