An Application of Regenerative Stochastic Processes to a Problem in Inventory Control

Arthur P. Hurter and Frank C. Kaminsky
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Arthur P. Hurter: Northwestern University, Evanston, Illinois
Frank C. Kaminsky: University of Massachusetts, Amherst, Massachusetts

Operations Research, 1967, vol. 15, issue 3, 467-472

Abstract: The theory of regenerative stochastic processes is applied to the problem of finding the limiting distribution of the number of units in storage for a basic single commodity storage system. In this system two modes of replenishment, called random and regular replenishment, are assumed to be available to the stock controller.

Date: 1967
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