Abstract
This paper derives the stationary probability distribution of inventory level for continuous-review models, by means of the system-point method of level-crossing analysis. We analyze inventory problems with decaying products under (nQ, r) and (s, S) ordering policies and zero lead-time, and derive the relevant cost functions. Our results have implications for the case of positive lead-time and to a non-decaying inventory problem with two types of demand processes.
Publisher
Cambridge University Press (CUP)
Subject
Statistics, Probability and Uncertainty,General Mathematics,Statistics and Probability
Cited by
12 articles.
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