Optimal Restocking Policy of an Inventory with Constant Demand
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In this paper, a model for an inventory whose stock decreases with time is considered. When a deliveryman arrives, if the level of the inventory exceeds a threshold α, no stock is delivered, otherwise a delivery is made. It is that the size of a delivery is a random variable Y which is exponentially distributed. After assigning various costs to the model, we calculate the long-run average cost and show that there exist unique value of arrival rate of deliveryman α, unique value of threshold α and unique value of average delivery m which minimize the long-run average cost.

키워드

inventoryPoison processlong-run average costrestocking policyinventoryPoison processlong-run average costrestocking policy
제목
Optimal Restocking Policy of an Inventory with Constant Demand
저자
기정진임경은이의용
발행일
2004-12
저널명
Communications for Statistical Applications and Methods
11
3
페이지
631 ~ 641