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

DOI10.1287/MOOR.6.2.246MaRDI QIDQ3960443zbMATH OpenOpenAlexFDO

Authors 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

backorder costsclosed-form expression for system costcompensation methodconstrained Markov processexponential demand sizeGreen's function methodsinventory holding costsM/M/1 systemminimization of total system costsone-product, one-machine, production/inventory problemoptimal policyPoisson demand processserver backlog processsetup coststwo-critical-number policy

Mathematics Subject Classification ID

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

Cited in

(15)

• On the unutilized capacity of a production-storage system
• Unreliable production-inventory model with a two-phase Erlang demand arrival process
• Control of a continuous production inventory system with production quantity restrictions
• Approximations for operating characteristics in a production-inventory model with variable production rate
• Analysis of a production-inventory system with unreliable production facility
• Analysis of a two-stage finite buffer flow controlled queueing model by a compensation method
• 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
• Optimal and simple approximate solutions to a production-inventory system with stochastic and deterministic demand
• Enterprise debts analysis using a mathematical model of production, considering the deficit of current assets
• A control policy of an inventory system with compound poisson demand
• Optimal strategies in a production inventory control model
• Optimal inventory threshold for a dynamic service make-to-stock system with strategic customers
• On a continuous review production-inventory problem
• Inventory levels to stop and restart a single machine producing one product

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