Abstract
A two commodity continuous review inventory system with independent Poisson processes for the demands is considered in this paper. The maximum inventory level for the i-th commodity is fixed asS i (i = 1,2). The net inventory level at timet for the i-th commodity is denoted byI i(t),i = 1,2. If the total net inventory levelI(t) =I 1(t) +I 2(t) drops to a prefixed level\(s[ \leqslant \tfrac{{(S_1 - 2)}}{2}or\tfrac{{(S_2 - 2)}}{2}]\), an order will be placed for (S i −s) units of i-th commodity(i=1,2). The probability distribution for inventory level and mean reorders and shortage rates in the steady state are computed. Numerical illustrations of the results are also provided.
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The work was carried out under a Major Research Project funded by University Grants Commission, India.
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Anbazhagan, N., Arivarignan, G. Analysis of two commodity Markovian inventory system with lead time. Korean J. Comput. & Appl. Math. 8, 427–438 (2001). https://doi.org/10.1007/BF02941976
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DOI: https://doi.org/10.1007/BF02941976