A computational study on fill rate expressions for single-stage periodic review under normal demand and constant lead time |
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| Institution: | 1. Department of Industrial Engineering, University of Louisville, United States;2. Department of Decision Sciences and Marketing, Robert B. Willumstad School of Business, Adelphi University, United States;3. Department of Mathematics, University of Louisville, United States |
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| Abstract: | This paper reviews fill rate expressions for a single stage periodic review inventory system under normal demand and constant lead time, discusses the relationship among all expressions in the literature, and evaluates their robustness and accuracy. Monte Carlo simulation is used to numerically compare all expressions. We present conditions under which some expressions produce higher values than others. |
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| Keywords: | Inventory Periodic review Base-stock policy Fill rate |
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