New algorithms for (Q,r) systems with complete backordering using a fill‐rate criterion

Candace Arai Yano

Naval Research Logistics Quarterly, 1985, vol. 32, issue 4, 675-688

Abstract: We present an algorithm which determines optimal parameter values for order quantity‐reorder point systems with complete backordering. The service level is measured as fraction of demand satisfied directly from shelf, also known as “fill‐rate.” This algorithm differs from existing algorithms because an exact cost function is used rather than an approximation. We also present a new heuristic algorithm, which is more efficient computationally than the optimal procedure and provides excellent results. Results of extensive computational experience also are reported.

Date: 1985
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Persistent link: https://EconPapers.repec.org/RePEc:wly:navlog:v:32:y:1985:i:4:p:675-688

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