Resumen de A Non-parametric Enhancement of the Fill Rate Estimation
María Eugenia Babiloni Griñón, Ester Guijarro Tarradellas, Juan Ramón Trapero Arenas
One of the main objectives of an inventory system consists of guarantee a target service level. However, classical approaches are based on assumptions that introduce significant errors. This fact can lead to design inventory policies that do not guarantee the achievement of the target service level. This paper suggests an expression to compute the fill rate for the continuous base-stock policy based on the classic derivation that neglects undershoots at the reorder point. Subsequently, the error incurred for neglecting the undershoots is calculated and corrected by means of the state-dependent parameter approach expressed in a state space framework. The results show that the empirical approach reduces the classic fill rate bias. Simulation is employed to corroborate these results.
