An (s,Q) Markovian inventory system with lost sales and two demand classes

An (s,Q) Markovian inventory system with lost sales and two demand classes

0.00 Avg rating0 Votes
Article ID: iaor20062427
Country: Netherlands
Volume: 43
Issue: 7/8
Start Page Number: 687
End Page Number: 694
Publication Date: Apr 2006
Journal: Mathematical and Computer Modelling
Authors:
Keywords: markov processes
Abstract:

In this article a lost sales (s,Q) inventory system with two types of customer viz. ordinary and priority customers and exponentially distributed leadtimes is analyzed. Demands from each type of customer arrive according to independent Poisson processes with different parameters. The expression for the long-run expected cost rate is derived. A computationally efficient algorithm for determining the optimal values for reorder level and reorder quantity is developed.

Reviews

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 Your email address will not be published.