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On the Stationary Analysis of Continuous Review ( s , S ) Inventory Systems with Constant Lead Times

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  • Izzet Sahin

    (University of Wisconsin, Milwaukee, Wisconsin)

Abstract

We derive time-dependent and stationary distributions of inventory position and on-hand inventory under the ( s , S ) policy for a continuous review inventory system with general inter-arrival and demand distributions and a constant lead time. Some results are also obtained for the characterization of the optimal policies.

Suggested Citation

  • Izzet Sahin, 1979. "On the Stationary Analysis of Continuous Review ( s , S ) Inventory Systems with Constant Lead Times," Operations Research, INFORMS, vol. 27(4), pages 717-729, August.
    • Handle: RePEc:inm:oropre:v:27:y:1979:i:4:p:717-729
    DOI: 10.1287/opre.27.4.717
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    Citations

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    Cited by:

    1. Michael Katehakis & Laurens Smit, 2012. "On computing optimal (Q,r) replenishment policies under quantity discounts," Annals of Operations Research, Springer, vol. 200(1), pages 279-298, November.
    2. Tovey C. Bachman & Pamela J. Williams & Kristen M. Cheman & Jeffrey Curtis & Robert Carroll, 2016. "PNG: Effective Inventory Control for Items with Highly Variable Demand," Interfaces, INFORMS, vol. 46(1), pages 18-32, February.
    3. Jim Shi, 2022. "Optimal continuous production-inventory systems subject to stockout risk," Annals of Operations Research, Springer, vol. 317(2), pages 777-804, October.
    4. 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.
    5. 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.
    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. Xie, Xiaolan, 1998. "Stability analysis and optimization of an inventory system with bounded orders," European Journal of Operational Research, Elsevier, vol. 110(1), pages 126-149, October.
    8. Roni, Mohammad S. & Jin, Mingzhou & Eksioglu, Sandra D., 2015. "A hybrid inventory management system responding to regular demand and surge demand," Omega, Elsevier, vol. 52(C), pages 190-200.
    9. Awi Federgruen & Min Wang, 2013. "Monotonicity properties of a class of stochastic inventory systems," Annals of Operations Research, Springer, vol. 208(1), pages 155-186, September.
    10. Michael N. Katehakis & Benjamin Melamed & Jim Junmin Shi, 2022. "Optimal replenishment rate for inventory systems with compound Poisson demands and lost sales: a direct treatment of time-average cost," Annals of Operations Research, Springer, vol. 317(2), pages 665-691, October.

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