IDEAS home Printed from https://ideas.repec.org/a/inm/oropre/v22y1974i1p65-71.html
   My bibliography  Save this article

A Continous-Review ( s , S ) Inventory System with Arbitrary Interarrival Distribution between Unit Demand

Author

Listed:
  • B. D. Sivazlian

    (The University of Florida, Gainesville, Florida)

Abstract

For a continuous-review inventory system where demand is defined by a discrete-valued process with units withdrawn from stock one at a time and where the interarrival times between successive demands are independently and identically distributed, the transient and steady-state distribution for the position inventory are derived when operating under an ( s , S ) policy. This paper shows that the limiting distribution of the position inventory is uniform over the set ( s + 1, …, S ) and is independent of the distribution of the interarrival times. When instantaneous delivery of orders is allowed, the problem is equivalent to an independent stand-by system consisting of Q = S − s operating elements subject to failure, where, following the failure of the last operating element, all Q failed elements are immediately repaired or replaced by Q new identical elements.

Suggested Citation

  • B. D. Sivazlian, 1974. "A Continous-Review ( s , S ) Inventory System with Arbitrary Interarrival Distribution between Unit Demand," Operations Research, INFORMS, vol. 22(1), pages 65-71, February.
    • Handle: RePEc:inm:oropre:v:22:y:1974:i:1:p:65-71
    DOI: 10.1287/opre.22.1.65
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.1287/opre.22.1.65
    Download Restriction: no
    File URL: https://libkey.io/10.1287/opre.22.1.65?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Joseph B. Mazzola & William F. McCoy & Harvey M. Wagner, 1987. "Algorithms and heuristics for variable‐yield lot sizing," Naval Research Logistics (NRL), John Wiley & Sons, vol. 34(1), pages 67-86, February.
    2. Ki Ling Cheung & Hau L. Lee, 2002. "The Inventory Benefit of Shipment Coordination and Stock Rebalancing in a Supply Chain," Management Science, INFORMS, vol. 48(2), pages 300-306, February.
    3. Sandun C. Perera & Suresh P. Sethi, 2023. "A survey of stochastic inventory models with fixed costs: Optimality of (s, S) and (s, S)‐type policies—Continuous‐time case," Production and Operations Management, Production and Operations Management Society, vol. 32(1), pages 154-169, January.
    4. Xiaobo Zhao & Fan Fan & Xiaoliang Liu & Jinxing Xie, 2007. "Storage-Space Capacitated Inventory System with ( r, Q ) Policies," Operations Research, INFORMS, vol. 55(5), pages 854-865, October.
    5. Tamer Boyacı & Guillermo Gallego, 2002. "Managing waiting times of backordered demands in single‐stage (Q, r) inventory systems," Naval Research Logistics (NRL), John Wiley & Sons, vol. 49(6), pages 557-573, September.
    6. Frenk, J.B.G. & Kleijn, M.J., 1997. "On regenerative processes and inventory control," Econometric Institute Research Papers EI 9741/A, Erasmus University Rotterdam, Erasmus School of Economics (ESE), Econometric Institute.
    7. Howard J. Weiss & Stanley R. Pliska, 1976. "Optimal Control of Some Markov Processes with Applications to Batch Queueing and Continuous Review Inventory Systems," Discussion Papers 214, Northwestern University, Center for Mathematical Studies in Economics and Management Science.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:inm:oropre:v:22:y:1974:i:1:p:65-71. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Asher (email available below). General contact details of provider: https://edirc.repec.org/data/inforea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.