## Abstract Using Markov renewal theory, we derive analytic expressions for the expected average cost associated with __(s, S)__ policies for a continuous review inventory model with a compound Poisson demand process and stochastic lead time, under the (restrictive) assumption that only one order c
An inventory model with finite-range stochastic lead times
β Scribed by Georghios P. Sphicas; Farrokh Nasri
- Publisher
- John Wiley and Sons
- Year
- 1984
- Tongue
- English
- Weight
- 390 KB
- Volume
- 31
- Category
- Article
- ISSN
- 0894-069X
No coin nor oath required. For personal study only.
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## Abstract The impact of lead time reduction on an integrated periodic review inventory system comprising a single vendor and multiple buyers with a step crashing cost function and serviceβlevel constraints is studied. The probability distribution of demand during the protection period for each bu
The exact expression is derived for the average stationary cost of a (Q,R) inventory system with lost sales, unit Poisson demands, Erlang-distributed lead times, fixed order cost, fixed cost per unit lost sale, linear holding cost per unit time, and a maximum of one order outstanding. Explicit expre