On the Fill Rate Approximations in Periodic Review Systems for Discrete Demand

Tarradellas, Ester Guijarro; Babiloni, Eugenia; Cardós, Manuel; Albarracín, José Miguel

doi:10.1007/978-1-4471-2321-7_41

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2013

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“…However the complexity of such methods makes difficult its implementation by practitioners. On the other hand, applying estimation procedures designed for continuous demand patterns to discrete demands leads to significant deviations that cannot be neglected as shown by [12].…”

Section: Introductionmentioning

confidence: 99%

Implementing an Exact Estimation Approach of the Base Stock for the Periodic Review Policy Based on Fill Rate

Babiloni¹,

Tarradellas²,

Cardós³

2013

SIC

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Recent developments on the fill rate estimation in periodic review stock policies provide new techniques for setting up the stock policy parameters including exact procedures. However, the implementation of this method in real environments may be a difficult task due to issues such as the availability of demand data, the identification of an appropriate demand distribution pattern and the target fill rate established for each item according to a global target fill rate. This paper focuses on the modifications needed in the information management system of a company in order to implement an exact estimation procedure of the stock policies taking advantage of available data.

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Section: Introductionmentioning

confidence: 99%