A perishable inventory system with retrial demands and a finite population

✍ Scribed by B. Sivakumar

• Publisher: Elsevier Science
• Year: 2009
• Tongue: English
• Weight: 624 KB
• Volume: 224
• Category: Article
• ISSN: 0377-0427
• DOI: 10.1016/j.cam.2008.03.041

✦ Synopsis

In this article, we consider a continuous review perishable inventory system with a finite number of homogeneous sources of demands. The maximum storage capacity is S. The life time of each items is assumed to be exponential. The operating policy is (s, S) policy, that is, whenever the inventory level drops to s, an order for Q(= Ss) items is placed. The ordered items are received after a random time which is distributed as exponential. We assume that demands occurring during the stock-out period enter into the orbit. These orbiting demands send out signal to compete for their demand which is distributed as exponential. The joint probability distribution of the inventory level and the number of demands in the orbit are obtained in the steady state case. Various system performance measures are derived and the results are illustrated numerically.