EconPapers    
Economics at your fingertips  
 

Stock Levels Generated by a Controlled-Variability Arrival Process

L. J. Govier and T. Lewis
Additional contact information
L. J. Govier: Esso Petroleum Co., Ltd., London, England
T. Lewis: University College, London, England

Operations Research, 1963, vol. 11, issue 5, 693-701

Abstract: Controlled-variability arrivals are of widespread occurrence, and a model for discrete controlled-variability arrivals, called the ( a , b ) process, has been discussed in the literature. This paper considers the marginal distribution of stock levels generated by ( a , b ) arrivals of equally sized cargoes, assuming that discharge into stock is instantaneous and that offtake from stock is at a continuous uniform rate equal to the mean rate of planned arrivals. It is shown that, provided the arrival pattern is not too close to regularity, the resulting distribution of stock levels is effectively normal and has a standard deviation that can be simply expressed in terms of the parameters of the ( a , b ) process. The paper also discusses some aspects of the use of this result for the justification of storage facilities in some real systems.

Date: 1963
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://dx.doi.org/10.1287/opre.11.5.693 (application/pdf)

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:inm:oropre:v:11:y:1963:i:5:p:693-701

Access Statistics for this article

More articles in Operations Research from INFORMS Contact information at EDIRC.
Bibliographic data for series maintained by Chris Asher ().

 
Page updated 2025-03-19
Handle: RePEc:inm:oropre:v:11:y:1963:i:5:p:693-701