A Perishable Inventory System with Postponed Demands and Multiple Server Vacations
A mathematical modelling of a continuous review stochastic inventory system with a single server is carried out in this work. We assume that demand time points form a Poisson process. The life time of each item is assumed to have exponential distribution. We assume (s,S) ordering policy to replenish...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Wiley
2012-01-01
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| Series: | Modelling and Simulation in Engineering |
| Online Access: | http://dx.doi.org/10.1155/2012/620960 |
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| Summary: | A mathematical modelling of a continuous review stochastic inventory
system with a single server is carried out in this work. We assume
that demand time points form a Poisson process. The life time of each
item is assumed to have exponential distribution. We assume (s,S)
ordering policy to replenish stock with random lead time. The server
goes for a vacation of an exponentially distributed duration at the time
of stock depletion and may take subsequent vacation depending on the
stock position. The customer who arrives during the stock-out period
or during the server vacation is offered a choice of joining a pool which
is of finite capacity or leaving the system. The demands in the pool
are selected one by one by the server only when the inventory level
is above s, with interval time between any two successive selections
distributed as exponential with parameter depending on the number
of customers in the pool. The joint probability distribution of the
inventory level and the number of customers in the pool is obtained
in the steady-state case. Various system performance measures in the
steady state are derived, and the long-run total expected cost rate is
calculated. |
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| ISSN: | 1687-5591 1687-5605 |