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dc.contributor.authorFadıloǧlu, M. M.en_US
dc.contributor.authorBulut, Ö.en_US
dc.date.accessioned2016-02-08T09:58:47Z
dc.date.available2016-02-08T09:58:47Z
dc.date.issued2010en_US
dc.identifier.issn0377-2217
dc.identifier.urihttp://hdl.handle.net/11693/22335
dc.description.abstractStock rationing is an inventory policy that allows differential treatment of customer classes without using separate inventories. In this paper, we propose a dynamic rationing policy for continuous-review inventory systems, which utilizes the information on the status of the outstanding replenishment orders. For both backordering and lost sales environments, we conduct simulation studies to compare the performance of the dynamic policy with the static critical level and the common stock policies and quantify the gain obtained. We propose two new bounds on the optimum dynamic rationing policy that enables us to tell how much of the potential gain the proposed dynamic policy realizes. We discuss the conditions under which stock rationing - both dynamic and static - is beneficial and assess the value of the dynamic policy.en_US
dc.language.isoEnglishen_US
dc.source.titleEuropean Journal of Operational Researchen_US
dc.relation.isversionofhttp://dx.doi.org/10.1016/j.ejor.2009.05.043en_US
dc.subjectDynamic rationingen_US
dc.subjectMultiple demand classesen_US
dc.subjectRationingen_US
dc.subjectSimulationen_US
dc.subjectBackorderingen_US
dc.subjectContinuous-review inventory systemsen_US
dc.subjectCritical levelen_US
dc.subjectDifferential treatmenten_US
dc.subjectDynamic policyen_US
dc.subjectInventory policiesen_US
dc.subjectLost saleen_US
dc.subjectMultiple demand classesen_US
dc.subjectRationingen_US
dc.subjectSimulationen_US
dc.subjectSimulation studiesen_US
dc.subjectStock policyen_US
dc.subjectInventory controlen_US
dc.titleA dynamic rationing policy for continuous-review inventory systemsen_US
dc.typeArticleen_US
dc.departmentDepartment of Industrial Engineering
dc.citation.spage675en_US
dc.citation.epage685en_US
dc.citation.volumeNumber202en_US
dc.citation.issueNumber3en_US
dc.identifier.doi10.1016/j.ejor.2009.05.043en_US
dc.publisherElsevieren_US
dc.identifier.eissn1745-7653


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