On the equivalence of three approximate continuous review inventory models

Steven Nahmias

Naval Research Logistics Quarterly, 1976, vol. 23, issue 1, 31-36

Abstract: This paper considers the problem of computing reorder points and order quantities for continuous review inventory systems subject to either a service level constraint or a constraint on the average fraction of time out of stock. It is demonstrated that three apparently distinct models are equivalent under these circumstances. Using this equivalence, streamlined algorithms for computed lot sizes and recorder points are developed.

Date: 1976
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Persistent link: https://EconPapers.repec.org/RePEc:wly:navlog:v:23:y:1976:i:1:p:31-36

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