Computation of order and volume fill rates for a base stock inventory control system with heterogeneous demand to investigate which customer class gets the best service
Publisher: Aarhus School of Business, Department of Business Studies
Subject: Base stock policy; service measures; two customer classes; compound renewal processes | Base stock policy, service measures, two customer classes, compound renewal processes.
We consider a base stock inventory control system serving two customer classes whose demands are generated by two independent compound renewal processes. We show how to derive order and volume fill rates of each class. Based on assumptions about first order stochastic d... View more