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On the estimation of the fill rate for the continuous (s, S) inventory system for the lost sales context

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On the estimation of the fill rate for the continuous (s, S) inventory system for the lost sales context

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dc.contributor.author Guijarro, Ester es_ES
dc.contributor.author Babiloni, Eugenia es_ES
dc.contributor.author Cardós, Manuel es_ES
dc.date.accessioned 2023-05-08T18:02:15Z
dc.date.available 2023-05-08T18:02:15Z
dc.date.issued 2022-02-17 es_ES
dc.identifier.issn 1932-6203 es_ES
dc.identifier.uri http://hdl.handle.net/10251/193222
dc.description.abstract [EN] In the continuous review reorder point, base-stock (s, S) policy, the replenishment order is launched when the inventory position reaches the reorder point, s. It is commonly assumed that the inventory position is exactly equal to the reorder point at the moment the order is launched, when actually it could be lower at that moment. This implies neglecting the possible undershoots at the reorder point, which has a direct impact on the calculation of the expected shortages per replenishment cycle. This article presents a method for an exact calculation of the fill rate (fraction of demand that is immediately satisfied from shelf) which takes explicit account of the existence of undershoots and is applicable to any discrete demand distribution function in a context of lost sales. This method is based on the determination of the stock probability vector at the moment the replenishment order is launched. Furthermore, neglecting the undershoots is shown to lead to an overestimation of the fill rate, particularly when we move farther away from the unitary demand assumption. From a practical point of view, this behaviour involves underestimating the base-stock level, S, when a target fill rate is set for its determination. The method proposed in this paper overcomes these shortcomings. es_ES
dc.description.sponsorship Initials of authors that receive the grant: E.G. and E. B. Grant number: SBPLY/19/180501/000151. Funder: European Regional Development Fund and Junta de Comunidades de Castilla-La Mancha (JCCM/FEDER, UE). URL: https://fondosestructurales.castillalamancha.es/The funders had no role in study design, data collection and analysis, decision to publish, or preparation of the manuscript. es_ES
dc.language Inglés es_ES
dc.publisher Public Library of Science es_ES
dc.relation.ispartof PLoS ONE es_ES
dc.rights Reconocimiento (by) es_ES
dc.subject.classification ORGANIZACION DE EMPRESAS es_ES
dc.title On the estimation of the fill rate for the continuous (s, S) inventory system for the lost sales context es_ES
dc.type Artículo es_ES
dc.identifier.doi 10.1371/journal.pone.0263655 es_ES
dc.relation.projectID info:eu-repo/grantAgreement/JCCM//SBPLY%2F19%2F180501%2F000151/ es_ES
dc.rights.accessRights Abierto es_ES
dc.contributor.affiliation Universitat Politècnica de València. Escuela Técnica Superior de Ingenieros Industriales - Escola Tècnica Superior d'Enginyers Industrials es_ES
dc.contributor.affiliation Universitat Politècnica de València. Facultad de Administración y Dirección de Empresas - Facultat d'Administració i Direcció d'Empreses es_ES
dc.description.bibliographicCitation Guijarro, E.; Babiloni, E.; Cardós, M. (2022). On the estimation of the fill rate for the continuous (s, S) inventory system for the lost sales context. PLoS ONE. 17(2):1-13. https://doi.org/10.1371/journal.pone.0263655 es_ES
dc.description.accrualMethod S es_ES
dc.relation.publisherversion https://doi.org/10.1371/journal.pone.0263655 es_ES
dc.description.upvformatpinicio 1 es_ES
dc.description.upvformatpfin 13 es_ES
dc.type.version info:eu-repo/semantics/publishedVersion es_ES
dc.description.volume 17 es_ES
dc.description.issue 2 es_ES
dc.identifier.pmid 35176051 es_ES
dc.identifier.pmcid PMC8853522 es_ES
dc.relation.pasarela S\456374 es_ES
dc.contributor.funder European Regional Development Fund es_ES
dc.contributor.funder Junta de Comunidades de Castilla-La Mancha es_ES
dc.contributor.funder Universitat Politècnica de València es_ES


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