TY - JOUR
T1 - Stock optimization for service differentiated demands with fill rate and waiting time requirements
AU - Vicil, Oguzhan
AU - Jackson, Peter
N1 - Publisher Copyright:
© 2018 Elsevier B.V.
PY - 2018/5
Y1 - 2018/5
N2 - We develop a computationally efficient optimization procedure to optimize stock and rationing levels for a model consisting of a single product with two priority–demand classes, given by mutually independent, stationary, Poisson demand processes. Each priority class has its own service levels requirements, defined by the class-specific fill rate and expected waiting-time levels. Order lead times are independent and identically distributed random variables. This is the first study in this setting to consider both waiting-time constraints along with fill rate requirements.
AB - We develop a computationally efficient optimization procedure to optimize stock and rationing levels for a model consisting of a single product with two priority–demand classes, given by mutually independent, stationary, Poisson demand processes. Each priority class has its own service levels requirements, defined by the class-specific fill rate and expected waiting-time levels. Order lead times are independent and identically distributed random variables. This is the first study in this setting to consider both waiting-time constraints along with fill rate requirements.
UR - http://www.scopus.com/inward/record.url?scp=85046169922&partnerID=8YFLogxK
U2 - 10.1016/j.orl.2018.03.009
DO - 10.1016/j.orl.2018.03.009
M3 - Article
AN - SCOPUS:85046169922
VL - 46
SP - 367
EP - 372
JO - Operations Research Letters
JF - Operations Research Letters
SN - 0167-6377
IS - 3
ER -