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



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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

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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.

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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
Deposited On:08 Jun 2012 08:55
Last Modified:06 Aug 2018 08:36

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