TWO COMMODITY COORDINATED INVENTORY SYSTEM WITH MARKOVIAN DEMAND

V. S. S. Yadavalli (), G. Arivarignan and N. Anbazhagan
Additional contact information
V. S. S. Yadavalli: Department of Industrial and Systems Engineering, University of Pretoria, 0002 Pretoria, South Africa
G. Arivarignan: Department of Applied Mathematics and Statistics, Madurai Kamaraj University, Madurai, India
N. Anbazhagan: Department of Mathematics, Thiagarajar College of Engineering, Madurai, India

Asia-Pacific Journal of Operational Research (APJOR), 2006, vol. 23, issue 04, 497-508

Abstract: This paper considers a two commodity continuous review inventory system. The demand points for each commodity are assumed to form Poisson processes. It is further assumed that the demand for the first commodity require the one unit of second commodity in addition to the first commodity with probabilityp1. Similarly, the demand for the second commodity require the one unit of first commodity in addition to the second commodity with probabilityp2. This assumption model the situation in which a buyer who intends to buy one particular commodity may also go for another commodity. The limiting probability distribution for the joint inventory levels is computed. Various operational characteristics, expression for the long run total expected cost rate is derived. The results are illustrated with numerical examples.

Keywords: Markovian demand; continuous review inventory system; limiting probability distribution; joint inventory level; reordering policy (search for similar items in EconPapers)
Date: 2006
References: View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.worldscientific.com/doi/abs/10.1142/S0217595906001005
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:apjorx:v:23:y:2006:i:04:n:s0217595906001005

Ordering information: This journal article can be ordered from

DOI: 10.1142/S0217595906001005

Access Statistics for this article

Asia-Pacific Journal of Operational Research (APJOR) is currently edited by Gongyun Zhao

More articles in Asia-Pacific Journal of Operational Research (APJOR) from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().