Determining the fill rate for a periodic review inventory policy with capacitated replenishments,lost sales and zero lead time |
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Authors: | Thomas Dubois Georges Allaert Frank Witlox |
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Affiliation: | 1. Department of Geography, Ghent University, Ghent, Belgium;2. Center for Mobility and Spatial Planning, Ghent University, Ghent, Belgium |
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Abstract: | In this paper we consider a periodic review order-up-to inventory system with capacitated replenishments, lost sales and zero lead time. We consider discrete demand. It is shown that the initial stock levels of the different review periods form a Markov chain and we determine the transition matrix. Furthermore we study for what probability mass functions of the review period demand the Markov chain has a unique stationary distribution. Finally, we present a method to determine the fill rate. |
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Keywords: | Inventory Periodic review Fill rate Capacitated replenishment Lost sales |
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