A class of inventory models with customer impatience

M. J. M. Posner and B. Yansouni

Naval Research Logistics Quarterly, 1972, vol. 19, issue 3, 483-492

Abstract: Classical inventory models generally assume either no backlogging of demands or unlimited backlogging. This paper treats the case wherein backlogged customers are willing to wait for a random period of time for service. A broad class of such models is discussed, with a more complete analysis performed on a simple subclass. Steady state equations are derived and solved assuming exponentially distributed interarrival times of customers, order delivery lead times, and customer patience.

Date: 1972
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Persistent link: https://EconPapers.repec.org/RePEc:wly:navlog:v:19:y:1972:i:3:p:483-492

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