Measuring and Mitigating the Costs of Stockouts

@article{Anderson2006MeasuringAM,
  title={Measuring and Mitigating the Costs of Stockouts},
  author={Eric T. Anderson and Gavan J. Fitzsimons and Duncan Simester},
  journal={Management Science},
  year={2006},
  volume={52},
  pages={1751-1763}
}
T is now an extensive theoretical literature investigating optimal inventory policies for retailers. Yet several recent reviews have recognized that these models are rarely applied in practice. One explanation for the paucity of practical applications is the difficulty of measuring how stockouts affect both current and future demand. In this paper, we report the findings of a large-scale field test that measures the shortand long-run opportunity cost of a stockout. The findings confirm that the… CONTINUE READING
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