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Customer Waiting Times in Continuous Review (nQ,R) Inventory Systems with Compound Poisson Demand
Linnaeus University, Faculty of Technology, Department of Mechanical Engineering.
Linnaeus University, Faculty of Technology, Department of Mechanical Engineering.
2014 (English)Manuscript (preprint) (Other academic)
Abstract [en]

The probability distribution of customer waiting times due to stock-outs and backlogging is studied, including mean and variance, when demand follows a compound Poisson process and the inventory is governed by an (nQ,R) inventory policy under continuous review. Existing results are reviewed and new exact contributions are presented, particularly covering the case when R<–1, a case that quite often may be optimal for central warehouses, but is missing in the literature. Waiting times are investigated for two cases: For an average unit of demand, assuming partial deliveries, and for a customer demanding

d units, assuming full deliveries only. Here d may be interpreted as the constant order size from a specific customer/retailer. The results are easily generalized to the waiting time of an average customer. Besides exact formulae, various approximations and simple heuristics are suggested for calculation of means and variances. The results should be valuable for approximately optimal inventory control in distribution

Place, publisher, year, edition, pages
2014.
National Category
Other Mechanical Engineering
Research subject
Technology (byts ev till Engineering), Mechanical Engineering
Identifiers
URN: urn:nbn:se:lnu:diva-32600OAI: oai:DiVA.org:lnu-32600DiVA, id: diva2:700225
Available from: 2014-03-04 Created: 2014-03-04 Last updated: 2022-03-16Bibliographically approved
In thesis
1. Essays on inventory theory
Open this publication in new window or tab >>Essays on inventory theory
2013 (English)Doctoral thesis, comprehensive summary (Other academic)
Place, publisher, year, edition, pages
Linnaeus University Press, 2013. p. 37
Series
Linnaeus University Dissertations ; 162
National Category
Other Mechanical Engineering
Research subject
Technology (byts ev till Engineering), Mechanical Engineering
Identifiers
urn:nbn:se:lnu:diva-110830 (URN)9789187427763 (ISBN)
Supervisors
Available from: 2022-03-16 Created: 2022-03-16 Last updated: 2025-01-15Bibliographically approved

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Farvid, MojtabaRosling, Kaj

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CiteExportLink to record
Permanent link

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Cite
Citation style
  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf