On a continuous review production-inventory problem

From MaRDI portal
Publication:761232





The author considers a single product production-inventory system, where both the input into the inventory and the demand for the product follow a Poisson process. As soon as the stock level reaches S, the machine is shut off. It is put back into operation as soon as the stock level drops down to s. The machine itself is subject to failure; life time is exponentially distributed, repair time has an arbitrary distribution. As a main result, the inventory level is studied as a function of time. In particular, its asymptotic behaviour is derived. Furthermore, some related problems are investigated and an asymptotic cost rate is introduced, which may be employed to determine s and S in an optimal way.











This page was built for publication: On a continuous review production-inventory problem

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q761232)