Evaluation of base‐stock policies in multiechelon inventory systems with state‐dependent demands part I: State‐independent policies

Jing‐Sheng Song and Paul H. Zipkin

Naval Research Logistics (NRL), 1992, vol. 39, issue 5, 715-728

Abstract: This article analyzes a model of a multiechelon inventory system. The exogenous demands form Markov‐modulated Poisson processes. That is, the demand rates are functions of an underlying Markov chain. Each location follows a base‐stock policy which is independent of the state of the underlying Markov chain. We employ the exogenous transit mechanism introduced by Zipkin [7] and Svoronos and Zipkin [6]. The transit times between locations have phase‐type distributions. An exact procedure to compute steady‐state performance measures is presented. © 1992 John Wiley & Sons, Inc.

Date: 1992
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https://doi.org/10.1002/1520-6750(199208)39:53.0.CO;2-4

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Persistent link: https://EconPapers.repec.org/RePEc:wly:navres:v:39:y:1992:i:5:p:715-728

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