Stochastic inventory management at a service facility with a set of reorder levels

Introducing a New Formulation for the Warehouse Inventory Management Systems: with Two Stochastic Demand Patterns

This paper presents a new formulation for warehouse inventory management in a stochastic situation. The primary source of this formulation is derived from FP model, which has been proposed by Fletcher and Ponnambalam for reservoir management. The new proposed mathematical model is based on the first and the second moments of storage as a stochastic variable. Using this model, the expected value...

A finite source multi-server inventory system with service facility

Markov Process for Service Facility systems with perishable inventory and analysis of a single server queue with reneging - Stochastic Model

ABSTRACT In this paper, we develop a supply network model for a service facility system with perishable inventory (on hand) by considering a two dimensional stochastic process of the form (L, X) =   0 )); ( ), ( (  t t X t L , where L (t) is the level of the on hand inventory and X (t) is the number of customers at time t. The inter-arrival time to the service station is assumed to be expone...

Vendor Managed Inventory of a Supply Chain under Stochastic Demands

In this research, an integrated inventory problem is formulated for a single-vendor multiple-retailer supply chain that works according to the vendor managed inventory policy. The model is derived based on the economic order quantity in which shortages with penalty costs at the retailers` level is permitted. As predicting customer demand is the most important problem in inventory systems and th...

Markov Decision Processes for Service Facility Systems with Perishable Inventory

We consider a service facility system with perishable inventory with finite number of servers. Each server having one perishable item for providing service. The arrival of a customer at the system according to independent Poisson Processes with rate  through a single channel. The service time of the customer is exponentially distributed with mean  1/ and the item in stock has exponential life...