Title :
A new approach to (s,S) inventory systems
Author :
Hu, Jian-Qiang ; Nananukul, Soracha ; Gong, Wei-Bo
Author_Institution :
Manuf. Eng., Boston Univ., MA, USA
Abstract :
By applying a method proposed by W. B. Gong and J. Q. Hu (1992), the authors derive a simple procedure to obtain the moments of on-hand inventory in (s, S) inventory systems with periodic reviews and immediate deliveries. Under mild assumptions on the demand distribution, it is possible to express the moments of on-hand inventory in terms of two power series, without involving any renewal functions. Preliminary numerical examples show that the method is very promising
Keywords :
matrix algebra; series (mathematics); stock control; (s,S) inventory systems; algebra; demand distribution; immediate deliveries; moments; on-hand inventory; periodic reviews; power series; stock control; Computer aided manufacturing; Cost function; Cranes; Density functional theory; Distribution functions; Equations; Probability distribution; Steady-state; Taylor series;
Conference_Titel :
Decision and Control, 1991., Proceedings of the 30th IEEE Conference on
Conference_Location :
Brighton
Print_ISBN :
0-7803-0450-0
DOI :
10.1109/CDC.1991.261526
