A partial replenishment model for an inventory with constant demand
- Authors
- Choi, Seung Kyoung; Lim, Kyung Eun; Lee, Eui Yong
- Issue Date
- Sep-2008
- Publisher
- ELSEVIER SCIENCE INC
- Keywords
- constant demand; long-run average cost; partial replenishment; poisson process; stationary distribution
- Citation
- APPLIED MATHEMATICAL MODELLING, v.32, no.9, pp 1790 - 1796
- Pages
- 7
- Journal Title
- APPLIED MATHEMATICAL MODELLING
- Volume
- 32
- Number
- 9
- Start Page
- 1790
- End Page
- 1796
- URI
- https://scholarworks.sookmyung.ac.kr/handle/2020.sw.sookmyung/14202
- DOI
- 10.1016/j.apm.2007.06.013
- ISSN
- 0307-904X
1872-8480
- Abstract
- An inventory with constant demand is considered. The inventory is checked according to a Poisson process and replenished either fully or partially when the stock is below a threshold. We obtained the stationary distribution of the level of the inventory. After assigning several costs to the inventory, we also derived the long-run average cost per unit time. A numerical example is studied to find the optimal values of the checking rate and threshold, which minimize the long-run average cost. (c) 2007 Elsevier Inc. All rights reserved.
- Files in This Item
- There are no files associated with this item.
- Appears in
Collections - 이과대학 > 통계학과 > 1. Journal Articles
Items in ScholarWorks are protected by copyright, with all rights reserved, unless otherwise indicated.