Simple approximations for the reorder point in periodic and continuous review (s,S) inventory systems with service level constraints

DOI10.1016/0377-2217(84)90232-7zbMath0547.90025OpenAlexW1963842300MaRDI QIDQ799231

H. Groenevelt, Henk C. Tijms

Publication date: 1984

Published in: European Journal of Operational Research (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/0377-2217(84)90232-7

zbMATH Keywords

(s,S) inventory systemperiodic and continuous reviewsservice level constraintstwo-moments fitting

Mathematics Subject Classification ID

Inventory, storage, reservoirs (90B05)

Related Items (20)

Determination of reorder points for spare parts in a two-echelon inventory system: The case of non identical maintenance facilities ⋮ Spicher's SB-algorithm revisited - feedback versus feedforward control for inventories ⋮ New structural properties of inventory models with Polya frequency distributed demand and fixed setup cost ⋮ The value of real time yield information in multi-stage inventory systems -- exact and heuristic approaches ⋮ Parametric replenishment policies for inventory systems with lost sales and fixed order cost ⋮ An efficient algorithm to compute the actual service level at each maintenance facility of a two-echelon inventory system ⋮ Lost-sales inventory systems with a service level criterion ⋮ Lost-sales inventory theory: a review ⋮ Relief inventory modelling with stochastic lead-time and demand ⋮ Inventory models with minimal service level constraints ⋮ A simple verification for the n-th moment of the backlog for the periodic review (s, S) inventory system¹ ⋮ Distribution planning for a divergent depotless two-echelon network under service constraints ⋮ Undershoot and order quantity probability distributions in periodic review, reorder point, order-up-to-level inventory systems with continuous demand ⋮ Approximations for operating characteristics in a production-inventory model with variable production rate ⋮ Inventory levels to stop and restart a single machine producing one product ⋮ On the empirical performance of \((T, s, S)\) heuristics ⋮ On the \((R,s,Q)\) inventory model when demand is modelled as a compound Bernoulli process ⋮ A Moment-Iteration Method for Approximating the Waiting-Time Characteristics of the GI/G/1 Queue ⋮ An order expediting policy for continuous review systems with manufacturing lead-time ⋮ Minimizing holding and ordering costs subject to a bound on backorders is as easy as solving a single backorder cost model

Uses Software

• Algorithm 542

Cites Work

• Unnamed Item
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• Approximations for the single-product production-inventory problem with compound Poisson demand and service-level constraints
• Evaluating the Effectiveness of a New Method for Computing Approximately Optimal (s, S) Inventory Policies
• Simple Approximations for a Variety of Dynamic Leadtime Lost-Sales Inventory Models
• Algorithm 542: Incomplete Gamma Functions [S14]
• The Power Approximation for Computing (s, S) Inventory Policies
• Five Popular Probability Density Functions: A Comparison in the Field of Stock-Control Models
• Continuous Review (s, S) Policies with Lost Sales
• Approximating a Point Process by a Renewal Process, I: Two Basic Methods
• Optimal and Heuristic Decisions in Single-and Multi-Item Inventory Systems
• The Gamma Distribution and Inventory Control
• (s, S) Policies Under Continuous Review and Discrete Compound Poisson Demand
• Methods for Determining the Re-order Point of an (s, S) Ordering Policy when a Service Level is Specified
• Coordinated Replenishments in a Multi-Item Inventory System with Compound Poisson Demands

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