Evaluating Long-Term Service Performance in Two-Stage Newsvendor Models

A. Bensoussan, Q. Feng, S. Sethi
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Abstract

Managing customer satisfaction in a cost effective way has always been a major challenge faced by inventory managers. This paper studies long-term service performance of a two-stage newsvendor selling a perishable product with short-term demand patterns. We characterize the optimal inventory policy to minimize the expected inventory cost such that a long-term stock availability target is satisfied. Both in-stock probability and fill rate targets are examined and compared. In particular, we address the following questions: How should an inventory manager evaluate his long-term fill rate performance without observing the lost sales? How are in-stock probabilities and fill rates connected with respect to different demand patterns? How does the forecast update impact the evaluation of the long-term service performance? How do the short-term cost trade-offs under different long-term service targets depend on the monotone structures of the forecast signal?
两阶段报贩模型的长期服务绩效评估
以具有成本效益的方式管理客户满意度一直是库存管理人员面临的主要挑战。本文研究了具有短期需求模式的两阶段易逝品报贩的长期服务绩效。我们描述了最优库存策略,以最小化预期库存成本,从而满足长期库存可用性目标。检查和比较了库存概率和填充率目标。特别是,我们解决以下问题:库存经理如何在不观察销售损失的情况下评估其长期填充率绩效?库存概率和填充率如何与不同的需求模式相联系?预测的更新如何影响对长期服务表现的评估?在不同的长期服务目标下,短期成本的权衡如何取决于预测信号的单调结构?
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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