Article ID: | iaor20082896 |
Country: | Netherlands |
Volume: | 35 |
Issue: | 4 |
Start Page Number: | 503 |
End Page Number: | 509 |
Publication Date: | Jul 2007 |
Journal: | Operations Research Letters |
Authors: | Zhang Jun, Zhang Jiang |
This paper develops an exact formula for the fill rate of a single-stage inventory system that uses a general periodic-review base-stock policy. For normal demand, we present a fill-rate expression that uses the standard normal PDF and CDF, and develop two approximations for the fill rate.