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The Exact Fill Rate in a Periodic Review Base Stock System under Normally Distributed Demand

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Author
Silver, Edward A.
Bischak, Diane P.
Accessioned
2011-07-27T16:08:26Z
Available
2011-07-27T16:08:26Z
Issued
2011
Other
Fill rate
Normal distribution
Subject
Inventory control
Base stock
Type
journal article
Metadata
Show full item record

Abstract
In this paper we consider a periodic review order-up-to-level (or base stock) inventory control system under normally distributed demand. For such circumstances an expression for the exact fill rate (fraction of demand satisfied without backordering) has been available in the literature but has not been widely known, let alone used by practitioners. In this paper we redevelop the expression and contrast our derivation with the earlier published one. The paper has two purposes. First, we hope that the reappearance of the exact result in this journal will lead to its wider adoption. Second, showing two contrasting approaches to obtaining the same result may be useful for both research and pedagogical purposes.
Refereed
Yes
This is a post print file as per the journal publisher's requirements. Article deposited according to publisher policy posted on SHERPA/ROMEO, July 27, 2011.
 
Citation
Silver, E., & Bischak, D. (2011). The Exact Fill Rate in a Periodic Review Base Stock System under Normally Distributed Demand. Omega The International Journal of Management Science. 39(3), 346-349
Corporate
University of Calgary
Faculty
Haskayne School of Business
Hasversion
Post-print
Url
http://www.elsevier.com/wps/find/journaldescription.cws_home/375/description#description
Publisher
Elsevier
Doi
http://dx.doi.org/10.11575/PRISM/34049
Uri
http://hdl.handle.net/1880/48699
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  • Haskayne School of Business Research & Publications

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