Analysis of a Stochastic Inventory Model on Random Environment with Two Classes of Suppliers and Impulse Customers

V. Vinitha, N. Anbazhagan, S. Amutha, K. Jeganathan, Bhanu Shrestha, Hyoung-Kyu Song, Gyanendra Prasad Joshi and Hyeonjoon Moon
Additional contact information
V. Vinitha: Department of Mathematics, Alagappa University, Karaikudi 630003, India
N. Anbazhagan: Department of Mathematics, Alagappa University, Karaikudi 630003, India
S. Amutha: Ramanujan Centre for Higher Mathematics, Alagappa University, Karaikudi 630004, India
K. Jeganathan: Ramanujan Institute for Advanced Study in Mathematics, University of Madras, Chennai 600005, India
Bhanu Shrestha: Department of Electronic Engineering, Kwangwoon University, Seoul 01897, Korea
Hyoung-Kyu Song: Department of Information and Communication Engineering and Convergence Engineering for Intelligent Drone, Sejong University, Seoul 05006, Korea
Gyanendra Prasad Joshi: Department of Computer Science and Engineering, Sejong University, Seoul 05006, Korea
Hyeonjoon Moon: Department of Computer Science and Engineering, Sejong University, Seoul 05006, Korea

Mathematics, 2022, vol. 10, issue 13, 1-18

Abstract: This paper explores the random environment with two classes of suppliers and impulse customers. The system’s greatest inventory size is S , and it has an infinitely large orbit. In this case, there are two categories of suppliers: temporary suppliers and regular suppliers. Whenever the inventory approaches r , we place on order Q 1 (= S − r ) unit items to a temporary supplier. Similarly, when the inventory level drops to s (< Q 1 < r ), we place an order for Q 2 (= S − s > s + 1 ) units of items to our regular supplier. Two types of suppliers’ lead times are considered to be exponentially distributed. Here, the customers who arrive from different states of the random environment (RE) are followed by the Markovian arrival process. If there is no inventory in the system when the customer arrives, they are automatically assigned to an orbit. The model was examined in steady state by using the matrix-analytic approach. Finally, the numerical examples for our structural model are discussed.

Keywords: random environment; two classes of suppliers; impulse customers; Markovian arrival process (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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