publication . Article . Other literature type . 2004

Fill Rates of Single-Stage and Multistage Supply Systems

Matthew J. Sobel;
Open Access
  • Published: 01 Jan 2004 Journal: Manufacturing & Service Operations Management, volume 6, issue 1 June, pages 41-52
Abstract
A supply system's fill rate is the fraction of demand that is met from on-hand inventory. This paper presents formulas for the fill rate of periodic review supply systems that use base-stock-level policies. The first part of the paper contains fill-rate formulas for a single-stage system and general distributions of demand. When demand is normally distributed, an exact expression uses only the standard normal distribution and density functions, and a good approximation uses only the standard normal distribution function. The second part of the paper derives the probability distribution of the finished goods inventory level for serial systems with buffer inventor...
Subjects
free text keywords: fill rate, service level, supply system, base-stock-level policy, multistage, supply chain, logistics, Economics, Finished good, Microeconomics, Supply chain, Normal distribution, Mathematical optimization, Fill rate, Periodic graph (geometry), Probability distribution, Single stage, Service level
Related Organizations
Any information missing or wrong?Report an Issue