Service constrained inventory models with random lifetimes and lead times

Abstract

We consider continuous review inventory models with Poisson demands, exponentially distributed lifetimes and replenishment order processing times. The model is unique in that complete backorders, complete lost sales and partial backorders are all addressed. We derive exact expressions of the key operating characteristics. Based on these performance measures, we optimise the system parameters subject to fill rate and waiting time constraints. Numerical examples are also provided to validate our models and to generate useful managerial insights.

Cite this work

No public copy is stored for this record, so only the metadata is cited.

Stored only when both papers are in the corpus — 23 citations exist upstream.

Papers that cite the same references — the relational fallback while embeddings are still backfilling.