Effective utilization of idle time in an (s,S) inventory with positive service time

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Article ID:	iaor20084257
Country:	United States
Volume:	2006
Issue:	69068
Start Page Number:	1
End Page Number:	13
Publication Date:	Jan 2006
Journal:	Journal of Applied Mathematics and Stochastic Analysis
Authors:	Krishnamoorthy A., Deepak T.G., Narayanan Viswanath C., Vineetha K.
Keywords:	inventory: order policies, inventory: storage, queues: applications, queues: theory

Abstract:

We deviate from the Berman et al. models in inventory with positive service time. We establish a necessary and sufficient condition for system stability. Several performance measures are computed. An optimisation problem is discussed. Our analysis suggests that it is optimal to place the replenishment order when the inventory level is positive (even in the zero lead time case). Numerical illustrations are provided.

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