A Markovian inventory system with random shelf time and back orders
Document Type
Article
Publication Date
12-1-2004
Publication Title
Computers & Industrial Engineering
Abstract
In this paper we consider an inventory system in which the demands occur according to a Markovian arrival process (MAP). The items in the inventory have shelf times that are assumed to follow an exponential distribution. The inventory is replenished according to an (s, S) policy and the replenishing times are assumed to follow a phase type distribution. Back orders of demands are allowed up to a certain level. Using matrix analytic methods we perform the steady state analysis of the inventory model. We also show that the reorder process can be modelled as a MAP. An optimization problem is proposed and several interesting numerical examples are presented.
Volume
47
Issue
4
First Page
315
Last Page
337
DOI
10.1016/j.cie.2004.08.003
ISSN
0360-8352
Rights
© 2004 Elsevier Science Ltd. All rights reserved.
Recommended Citation
Chakravarthy, Srinivas R. and Daniel, Jacob K., "A Markovian inventory system with random shelf time and back orders" (2004). Industrial & Manufacturing Engineering Publications. 28.
https://digitalcommons.kettering.edu/industrialmanuf_eng_facultypubs/28
