Teunter, R, Syntetos, A and Babai, M.Z. 2010, 'Determining order-up-to levels under periodic review for compound binomial (intermittent) demand' , European Journal of Operational Research, 203 (3) , pp. 619-624.
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Abstract
We propose a new method for determining order-up-to levels for intermittent demand items in a periodic review system. Contrary to existing methods, we exploit the intermittent character of demand by modelling lead time demand as a compound binomial process. In an extensive numerical study using Royal Air Force (RAF) data, we show that the proposed method is much better than existing methods at approximating target service levels and also improves inventory-service efficiency. Furthermore, the proposed method can be applied for both cost and service oriented systems, and is easy to implement.
| Item Type: | Article |
|---|---|
| Themes: | Subjects outside of the University Themes |
| Schools: | Schools > Salford Business School > Salford Business School Research Centre |
| Journal or Publication Title: | European Journal of Operational Research |
| Publisher: | Elsevier |
| Refereed: | Yes |
| ISSN: | 0377-2217 |
| Funders: | Engineering and Physical Sciences Research Council (EPSRC) |
| Depositing User: | Professor Aris Syntetos |
| Date Deposited: | 14 Oct 2011 08:50 |
| Last Modified: | 28 Aug 2021 07:01 |
| URI: | http://usir.salford.ac.uk/id/eprint/18314 |
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