Numerical analysis of(s, S) inventory systems with repeated attempts
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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.
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- Numerical analysis of(s, S) inventory systems with repeated attempts
Annals of Operations Research
Volume 141, Issue 1 , pp 67-83
- Cover Date
- Print ISSN
- Online ISSN
- Kluwer Academic Publishers
- Additional Links
- Inventory models
- Numerical methods of truncation
- Repeated attempts
- Stationary distribution
- Industry Sectors
- Author Affiliations
- 1. Department of Statistics and Operations Research, Faculty of Mathematics, Complutense University of Madrid, Madrid, 28040, Spain
- 2. Department of Mathematics, Cochin University of Science and Technology, Cochin, 682022, India
- 3. School of Statistics, Complutense University of Madrid, Madrid, 28040, Spain