Complutense University Library

Numerical analysis of (s, S) inventory systems with repeated attempts

Artalejo, Jesús R. and Krishnamoorthy, A. and Lopez-Herrero, M. J. (2006) Numerical analysis of (s, S) inventory systems with repeated attempts. Annals of Operations Research , 141 (1). pp. 67-83. ISSN 0254-5330

[img] PDF
Restricted to Repository staff only until 31 December 2020.

403kB

Official URL: http://www.springerlink.com/content/527800g4225334n0/

View download statistics for this eprint

==>>> Export to other formats

Abstract

This paper deals with a continuous review (s, S) inventory system where arriving demands finding the system out of stock, leave the service area and repeat their request after
some random time. This assumption introduces a natural alternative to classical approaches based either on lost demand models or on backlogged models. The stochastic model formulation is based on a bidimensional Markov process which is numerically solved to investigate the essential operating characteristics of the system. An optimal design problem is also considered.

Item Type:Article
Additional Information:The authors thank the referees for their constructive comments on an earlier version of the paper. The research of J.R. Artalejo and M.J. Lopez-Herrero was supported by the project BFM2002-02189. A. Krishnamoorthy acknowledges UGC (India) for the support through Research Award F.30-97/98/SA-III.
Uncontrolled Keywords:Inventory models; Numerical methods of truncation ;Repeated attempts; Stationary distribution
Subjects:Sciences > Mathematics > Operations research
ID Code:15546
References:

Anisimov, V.V. and J.R. Artalejo. (2002). “Approximation of Multiserver Retrial Queues by Means of Generalized Truncated Models.” Top 10, 51–66.

Arrow, K.J., T.E. Harris, and J. Marschak. (1951). “Optimal Inventory Theory.” Econometrica 19, 250–272.

Artalejo, J.R. and G.I. Falin. (2002). “Standard and Retrial Queueing Systems: A Comparative Analysis.” Revista Matematica Complutense 15, 101–129.

Artalejo, J.R. and M. Pozo. (2002). “Numerical Calculation of the Stationary Distribution of the Main Multiserver Retrial Queue.” Annals of Operations Research 116, 41–56.

Falin, G.I. and J.G.C. Templeton. (1997). Retrial Queues. Chapman and Hall, London.

Fleischmann, M., R. Kuik, and R. Dekker.(2002).“Controlling Inventories with Stochastic Item Returns: A Basic Model.” European Journal of Operational Research 138, 63–75.

Sahin, I. (1983). “On the Continuous-Review (s,S) Inventory Model Under Compound Renewal Demand and Random Lead Times.” Journal of Applied Probability 20, 213–219.

Shin, Y.W. and Y.C. Kim, (2000). “Stochastic Comparisons of Markovian Retrial Queues.” Journal of the Korean Statistical Society 29, 473–488.

Srinivasan, S.K. (1979). “General Analysis of s-S Inventory Systems with Random Lead Times and Unit Demands.” Journal of Mathematical and Physical Sciences 13, 107–129.

Tak´a¸cs, L. (1962). Introduction to the Theory of Queues. Oxford University Press, New York.

Tijms, H.C. (1994). Stochastic Models: An Algorithmic Approach. Wiley, Chichester.

Wang, J., J. Cao, and B. Liu, (2002). “Unreliable Production-Inventory Model with a Two-Phase Erlang Demand Arrival Process.” Computers and Mathematics with Applications 43, 1–13.

Yuan, X.M. and K.L. Cheung. (1998). “Modeling Returns of Merchandise in an Inventory System.” OR Spektrum 20, 147–154.

Deposited On:08 Jun 2012 08:55
Last Modified:06 Feb 2014 10:26

Repository Staff Only: item control page