An exact calculation of the cycle service level in a generalized periodic review system

Manuel Cardós · Cristóbal Miralles · Lorenzo Ros McDonnell

26 citations0/0 files storedJournal of the Operational Research Society

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Supply Chain and Inventory Management Reliability and Maintenance Optimization Management and Optimization Techniques

Abstract

This paper is focused on the exact calculation of the cycle service level for a generalized periodic review system accepting any discrete demand with a known probability function and any cycle service target. Previously, it was necessary to modify the definition of the cycle service level metric (also known as non stock out probability) so that it could be applied to these cases. The purpose of the proposed (R, S) system is to handle simultaneously fast-moving items, slow-moving items and intermittent or sporadic demand items any of them with high, medium or low cycle service targets.

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1999Inventory management and production planning and scheduling 1984Stock Control with Sporadic and Slow-Moving Demand 1997Selecting the best periodic inventory control and demand forecasting methods for low demand items 2003An examination of the size of orders from customers, their characterisation and the implications for inventory control of slow moving items 2005Designing a consumer products retail chain inventory replenishment policy with the consideration of transportation costs

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2013Periodic review inventory systems with a service level criterion 2010Exact and approximate calculation of the cycle service level in periodic review inventory policies 2010Exact and approximated calculation of the cycle service level in a continuous review policy

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