Numerical analysis of(s, S) inventory systems with repeated attempts

J. Artalejo (), A. Krishnamoorthy () and M. Lopez-Herrero ()

Annals of Operations Research, 2006, vol. 141, issue 1, 67-83

Abstract: This paper deals with a continuous review (s,S) inventory system where arriving demands finding the system out of stock, leave the service area and repeat their request after some random time. This assumption introduces a natural alternative to classical approaches based either on lost demand models or on backlogged models. The stochastic model formulation is based on a bidimensional Markov process which is numerically solved to investigate the essential operating characteristics of the system. An optimal design problem is also considered. Copyright Springer Science + Business Media, Inc. 2006

Keywords: Inventory models; Numerical methods of truncation; Repeated attempts; Stationary distribution (search for similar items in EconPapers)
Date: 2006
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DOI: 10.1007/s10479-006-5294-8

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