Annals of Operations Research

, Volume 141, Issue 1, pp 67–83

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

Authors

    • Department of Statistics and Operations Research, Faculty of MathematicsComplutense University of Madrid
  • A. Krishnamoorthy
    • Department of MathematicsCochin University of Science and Technology
  • M. J. Lopez-Herrero
    • School of StatisticsComplutense University of Madrid
Article

DOI: 10.1007/s10479-006-5294-8

Cite this article as:
Artalejo, J.R., Krishnamoorthy, A. & Lopez-Herrero, M.J. Ann Oper Res (2006) 141: 67. doi:10.1007/s10479-006-5294-8

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.

Keywords

Inventory modelsNumerical methods of truncationRepeated attemptsStationary distribution
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Copyright information

© Springer Science + Business Media, Inc. 2006