, Volume 141, Issue 1, pp 67-83

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

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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.

AMS subject classification: 90B05 90B22