An inventory with partial replenishment subject to compound Poisson demands
  • Choi, Seung Kyoung
  • Lim, Kyung Eun
  • Lee, Eui Yong
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초록

We introduce a concept of partial replenishment to an inventory. The stock of the inventory is replenished either fully with probability p or partially with probability 1 - p by a deliveryman arriving at the inventory according to a Poisson process. The demands for stock to the inventory form a compound Poisson process. The stationary distribution and the expectation of the level of the inventory are derived. An optimization is studied after several management costs are assigned to the inventory. Significance: We generalize well-known (s,S) policy by adding a concept of partial replenishment. Our policy can be applied to the case where the demands for stock occur according to a Poisson process and the full supply of the stock is not always possible, such as storages of munitions.

키워드

compound Poisson demandpartial replenishmentstationary distributionlong-run average costS,S POLICIESLEAD TIMEOPTIMALITYMODELS(S,S)-POLICIES
제목
An inventory with partial replenishment subject to compound Poisson demands
저자
Choi, Seung KyoungLim, Kyung EunLee, Eui Yong
발행일
2007-12
유형
Article; Proceedings Paper
저널명
International Journal of Industrial Engineering : Theory Applications and Practice
14
4
페이지
355 ~ 361