Developing a c1osed-form cost expression for an (R,s,nQ) policy where the demand process is compound generalized Erlang

Developing a c1osed-form cost expression for an (R,s,nQ) policy where the demand process is compound generalized Erlang

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Article ID: iaor20082894
Country: Netherlands
Volume: 35
Issue: 5
Start Page Number: 567
End Page Number: 572
Publication Date: Sep 2007
Journal: Operations Research Letters
Authors: ,
Keywords: statistics: distributions
Abstract:

We derive a c1osed-form cost expression for an (R,s,nQ) inventory control policy where all replenishment orders have a constant lead-time, unfilled demand is back-logged and inter-arrival times of order requests are generalized Erlang distributed. For given values of Q and R we show how to compute the optimal reorder level s.

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