DOI QR코드

DOI QR Code

Optimal Restocking Policy of an Inventory with Constant Demand

  • Ki, Jeong Jin (Department of Statistics, Sookmyung Women’s University) ;
  • Lim, Kyung Eun (Department of Statistics, Sookmyung Women’s University) ;
  • Lee, EuiYong (Department of Statistics, Sookmyung Women’s University)
  • 발행 : 2004.12.01

초록

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 $\alpha$, no stock is delivered, otherwise a delivery is made. It is assumed 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 $\alpha$, unique value of threshold $\alpha$ and unique value of average delivery m which minimize the long-run average cost.

키워드

참고문헌

  1. Baxter, L. A. and Lee, E. Y.(1987). An inventory with constant demand and poisson restocking, Prob. Eng. Inf. Sci., Vol. 1, 203-210 https://doi.org/10.1017/S0269964800000401
  2. Gavirneni, S.(2001). An efficient heuristic for inventory control when the customer is using (s, S) policy, Oper. Res. Lett., Vol. 28, 187-192. https://doi.org/10.1016/S0167-6377(01)00066-9
  3. Lee, E. Y. and Park, W. J.(1991). An inventory model and its optimization, Kyungpook Math J, Vol. 31, 143-150
  4. Sethi, S. P. and Cheng, F.(1997). Optimality of (s, S) policies in inventory models with Markovian demand, Oper. Res. Lett., Vol. 45, 931-939 https://doi.org/10.1287/opre.45.6.931
  5. Zheng, Y. S.(1991). A Simple proof for optimality of (s, S) policies in infinite-horizon inventory systems, J Appl. Probab., Vol. 28, 802-810 https://doi.org/10.2307/3214683
  6. Ross, S. M.(1996). Stochastic Processes, 2nd ed, Wiley