The Compensation Method Applied to a One-Product Production/Inventory Problem

DOI10.1287/moor.6.2.246zbMath0496.90030OpenAlexW2150515237MaRDI QIDQ3960443

Stephen C. Graves, Julian Keilson

Publication date: 1981

Published in: Mathematics of Operations Research (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1287/moor.6.2.246

zbMATH Keywords

compensation methodoptimal policysetup costsM/M/1 systembackorder costsinventory holding costsGreen's function methodsPoisson demand processtwo-critical-number policyclosed-form expression for system costconstrained Markov processexponential demand sizeminimization of total system costsone-product, one-machine, production/inventory problemserver backlog process

Mathematics Subject Classification ID

Production models (90B30) Inventory, storage, reservoirs (90B05) Applications of Markov renewal processes (reliability, queueing networks, etc.) (60K20) Applications of queueing theory (congestion, allocation, storage, traffic, etc.) (60K30)

Related Items (14)

A control policy of an inventory system with compound poisson demand ⋮ On the unutilized capacity of a production-storage system ⋮ Analysis of a two-stage finite buffer flow controlled queueing model by a compensation method ⋮ Optimal and simple approximate solutions to a production-inventory system with stochastic and deterministic demand ⋮ Optimal strategies in a production inventory control model ⋮ Control of a continuous production inventory system with production quantity restrictions ⋮ On a continuous review production-inventory problem ⋮ Approximations for operating characteristics in a production-inventory model with variable production rate ⋮ Inventory levels to stop and restart a single machine producing one product ⋮ Enterprise debts analysis using a mathematical model of production, considering the deficit of current assets ⋮ Analysis of a production-inventory system with unreliable production facility ⋮ Optimal replenishment rate for inventory systems with compound Poisson demands and lost sales: a direct treatment of time-average cost ⋮ Optimal continuous production-inventory systems subject to stockout risk ⋮ Unreliable production-inventory model with a two-phase Erlang demand arrival process

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