Stock optimization for service differentiated demands with fill rate and waiting time requirements

摘要

We develop a computationally efficient optimization procedure to optimize stock and rationing levels for a model consisting of a single product with two priority-demand classes, given by mutually independent, stationary, Poisson demand processes. Each priority class has its own service levels requirements, defined by the class-specific fill rate and expected waiting-time levels. Order lead times are independent and identically distributed random variables. This is the first study in this setting to consider both waiting time constraints along with fill rate requirements. (C) 2018 Elsevier B.V. All rights reserved.h