Service-Level Oriented Lot Sizing Under Stochastic Demand

Lars Fischer (), Sascha Herpers () and Michael Manitz ()
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Lars Fischer: Universität zu Köln
Sascha Herpers: Universität zu Köln
Michael Manitz: Universität zu Köln

A chapter in Operations Research Proceedings 2007, 2008, pp 351-356 from Springer

Abstract: Abstract In this paper, we analyze lot sizing under stochastic demand. The lot sizes are determined such that a target service level is met. This optimization procedure requires the calculation of the shortages and their probability distribution considering the inventory dynamics. For an example, we compare different production plans that reveal the influence of a service-level constraint on lot sizing.

Keywords: Service Level; Planning Horizon; Production Quantity; Demand Uncertainty; Stochastic Demand (search for similar items in EconPapers)
Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:spr:oprchp:978-3-540-77903-2_54

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DOI: 10.1007/978-3-540-77903-2_54

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