Calculation of Reorder Point Level under Stochastic Parameters: A Case Study in Healthcare Area

We consider a single-echelon, single-item inventory system where both demand and lead-time are stochastic. Continuous review policy is used to control the inventory system. The objective is to calculate the reorder point level under stochastic parameters. A case study is presented in Neonatal Intensive Care Unit.

Authors:

• Serap Akcan
• Ali Kokangul

Keywords:

• Inventory control system
• reorder point level
• stochastic demand
• stochastic lead time

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