Abstract
The conventional reorder point system has been studied by many researchers, and is still an important issue in inventory management. In the continuous review system, the reorder point is set as an inventory level so that the shortage rate during the procurement lead time becomes less than or equal to the specified allowable level. The conventional design of the reorder point is based on the assumption that demand follows a normal distribution. However, this assumption is not always appropriate. In this study, the design of the reorder point using the limited demand information is proposed.
| Original language | English |
|---|---|
| Pages (from-to) | 21-24 |
| Number of pages | 4 |
| Journal | Journal of Japan Industrial Management Association |
| Volume | 62 |
| Issue number | 1 |
| Publication status | Published - Apr 15 2011 |
| Externally published | Yes |
Fingerprint
Keywords
- Allowable shortage rate
- Limited demand information
- Reorder point system
ASJC Scopus subject areas
- Industrial and Manufacturing Engineering
- Applied Mathematics
- Management Science and Operations Research
- Strategy and Management
Cite this
Proposal of reorder point satisfying allowable shortage rate under limited demand information. / Takemoto, Yasuhiko; Iwamoto, Fumie; Arizono, Ikuo.
In: Journal of Japan Industrial Management Association, Vol. 62, No. 1, 15.04.2011, p. 21-24.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - Proposal of reorder point satisfying allowable shortage rate under limited demand information
AU - Takemoto, Yasuhiko
AU - Iwamoto, Fumie
AU - Arizono, Ikuo
PY - 2011/4/15
Y1 - 2011/4/15
N2 - The conventional reorder point system has been studied by many researchers, and is still an important issue in inventory management. In the continuous review system, the reorder point is set as an inventory level so that the shortage rate during the procurement lead time becomes less than or equal to the specified allowable level. The conventional design of the reorder point is based on the assumption that demand follows a normal distribution. However, this assumption is not always appropriate. In this study, the design of the reorder point using the limited demand information is proposed.
AB - The conventional reorder point system has been studied by many researchers, and is still an important issue in inventory management. In the continuous review system, the reorder point is set as an inventory level so that the shortage rate during the procurement lead time becomes less than or equal to the specified allowable level. The conventional design of the reorder point is based on the assumption that demand follows a normal distribution. However, this assumption is not always appropriate. In this study, the design of the reorder point using the limited demand information is proposed.
KW - Allowable shortage rate
KW - Limited demand information
KW - Reorder point system
UR - http://www.scopus.com/inward/record.url?scp=84857342870&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=84857342870&partnerID=8YFLogxK
M3 - Article
VL - 62
SP - 21
EP - 24
JO - Journal of Japan Industrial Management Association
JF - Journal of Japan Industrial Management Association
SN - 0386-4812
IS - 1
ER -