Stochastic inventory model with one sort of time-critical products in case of uncertain demand and constant supply

Stochastic inventory model with one sort of time-critical products in case of uncertain demand and constant supply

0.00 Avg rating0 Votes
Article ID: iaor2005842
Country: China
Volume: 18
Issue: 6
Start Page Number: 562
End Page Number: 565
Publication Date: Dec 2003
Journal: Journal of Systems Engineering and Electronics
Authors: , ,
Abstract:

Using the idea and method of queuing theory, the stochastic inventory model is established presented in form of state probability for the time-critical products, in which the supply intensity is constant but to be determined, the demand intensity is known already, but the demand quantity is stochastic. By transforming the state probability equations into matrix equations, we get a general computing method, so the approximate optimal supply intensity can be computed when the demand intensity is known. At the end of the paper, a practical example is studied and the approximate optimal supply intensity is got in three cases.

Reviews

Required fields are marked *. Your email address will not be published.