Journal ArticleDOI
ALGORITHMS FOR A CONTINUOUS-REVIEW (s, S) INVENTORY SYSTEM
TLDR
In this article, the steady state distribution of the inventory position for a continuous review (s, S) inventory system is derived in a computationally tractable form, where demands for items in inventory are assumed to form an N-process which is the'versatile Markovian point process' introduced by Neuts (1979).Abstract:
The steady-state distribution of the inventory position for a continuousreview (s, S) inventory system is derived in a computationally tractable form. Demands for items in inventory are assumed to form an N-process which is the 'versatile Markovian point process' introduced by Neuts (1979). The N-process includes the phase-type renewal process, Markov-modulated Poisson process etc., as special cases and is especially useful in modelling a wide variety of qualitative phenomena such as peaked arrivals, interruptions, inhibition or stimulation of arrivals by certain events etc. COMPUTATIONAL PROBABILITY; CONTINUOUS-REVIEW INVENTORY; N-PROCESS; PHASE-TYPE DISTRIBUTIONSread more
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References
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Journal ArticleDOI
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The n/g/1 queue and its detailed analysis
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On the moments of markov renewal processes
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