Customer waiting‐time distributions under base‐stock policies in single‐facility multi‐item production systems

Awi Federgruen and Ziv Katalan

Naval Research Logistics (NRL), 1996, vol. 43, issue 4, 533-548

Abstract: We derive efficient and highly accurate approximations for the customer waiting‐time distributions experienced in stochastic economic lot scheduling systems (SELSPs) that are governed by general base‐stock policies under a cyclic or more general periodic item sequence. SELSPs involve settings where several items need to be produced in a common facility with limited capacity, under significant uncertainty regarding demands, unit production times, setup times, or combinations thereof. Under a base‐stock policy one continues production of a given item until a specific target level is reached; the different items are produced in a given periodic sequence, possibly with idle times inserted between the completion of an item's production batch and the setup of the next item. We also demonstrate how base‐stock levels can be specified efficiently to guarantee any prescribed fill rate within a specific service window or distribution of service windows. © 1996 John Wiley & Sons, Inc.

Date: 1996
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https://doi.org/10.1002/(SICI)1520-6750(199606)43:43.0.CO;2-8

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Persistent link: https://EconPapers.repec.org/RePEc:wly:navres:v:43:y:1996:i:4:p:533-548

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