TY - JOUR ID - 3719 TI - Comparing four ordering policies in a lost sales inventory model with Poisson demand and zero ordering cost JO - Scientia Iranica JA - SCI LA - en SN - 1026-3098 AU - Haji, Rasoul AU - Tayebi, Hamed AD - Department of Industrial Engineering, Sharif University of Technology, Tehran, Zip 14588-89694, Iran Y1 - 2015 PY - 2015 VL - 22 IS - 3 SP - 1294 EP - 1298 KW - Lost sales KW - Base Stock policy KW - one-for-one-period policy KW - Poisson demand DO - N2 - In this paper, we compare four ordering policies in a lost sales inventory model with zero ordering cost, constant lead time, and Poisson demand process. These ordering policies are 1) base stock policy, 2) full delay policy, 3) simple delay policy and 4) a recently developed ordering policy called (1, T) or one for one period policy. Our work can be considered as an expansion of a previous research which compared the first three policies. We show that, for any fixed value of the ratio of unit lost sales cost over unit holding cost, there is a specific value of lead time demand beyond which the cost of (1, T) policy is lower than the costs of other three policies. Furthermore, the superiority of (1, T) policy is more significant for low values of the above ratio and becomes more pronounced as the lead time demand increases. UR - https://scientiairanica.sharif.edu/article_3719.html L1 - https://scientiairanica.sharif.edu/article_3719_ae3991d597d2ca4ec518cd655db66ff3.pdf ER -