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A Characterization of Types and Determinant Factors for Corporate Entrepreneurship: A Case Study Based Analysis Read chapter Read first chapter

2014 | OriginalPaper | Chapter

17. Design of a Continuous Review Stock Policy

Authors : Sofía Estellés-Miguel, Manuel Cardós, José Miguel Albarracín, Marta Elena Palmer

Published in: Annals of Industrial Engineering 2012

Publisher: Springer London

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Abstract

In stock management system with inventory management policy (s, Q) sometimes managers find that is a spread between the level of service they have calculated and the real one. This is because, there are exact and approximate ways of calculating CSL (cycle service level). The former are difficult to calculate (and not typically used in business), and the latter tend to neglect the deviations in the reorder point (also called undershoots) this results in differences mentioned above. This paper presents an structured review of the literature on the methodology to be followed in the design of inventory management policy (s, Q) when demand process is stationary with discrete probability function, independent and identically distributed, and replenishment period L constant and pinpoints the most significant research gaps and also proposes guidelines for the practical application of the most usual approximations. Models are considered for lost sales and backorders.

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Metadata
Title
Design of a Continuous Review Stock Policy
Authors
Sofía Estellés-Miguel
Manuel Cardós
José Miguel Albarracín
Marta Elena Palmer
Copyright Year
2014
Publisher
Springer London
Book
Annals of Industrial Engineering 2012

Print ISBN: 978-1-4471-5348-1

Electronic ISBN: 978-1-4471-5349-8

Copyright Year: 2014

DOI
https://doi.org/10.1007/978-1-4471-5349-8_17

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