A Perishable Inventory System with Postponed Demands and Finite
DOI:
https://doi.org/10.24297/jam.v12i8.5070Keywords:
Perishable Inventory, Continuous Review, Policy, Positive Lead time, Postponed Demand, Finite Population.Abstract
In this article, we consider a continuous review perishable inventory system with a finite number of homogeneous sources generating demands. The demand time points form quasi random process and demand is for single item. The maximum storage capacity is assumed to be The life time of each item is assumed to have exponential distribution. The order policy is policy, that is, whenever the inventory level drops to a prefixed level an order for items is placed. The ordered items are received after a random time which is distributed as exponential. We assume that the demands that occur during the stock out periods either enter a pool or leave the system which is according to a Bernoulli trial. The demands in the pool are selected one by one, while the stock is above the level with interval time between any two successive selections is distributed as exponential. The joint probability distribution of the number of customers in the pool and the inventory level is obtained in the steady state case. Various system performance measures are derived to compute the total expected cost per unit time in the steady state. The optimal cost function and the optimal are studied numerically.Downloads
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References
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[2] Chakravarthy, S. and Daniel, J., (2004), A Markovian Inventory System with Random Shelf Time and Back Orders, Computers and Industrial Engineering, 47, 315 - 337.
[3] Goyal, S. K. and Giri, B. C., (2001), Recent trends in modeling of deteriorating inventory, European Journal of Operational Research, 34(1), 1 - 16.
[4] Gurler, U. and Ozkaya, B. Y., (2003), A note on continuous review perishable inventory systems: Models and heuristics, IIE Transactions, 35, 321 - 323.
[5] Kalpakam, S. and Arivarignan, G., (1988), A Continuous Review Perishable Inventory Model, Statistics, 19(3), 389 - 398.
[6] Kalpakam, S. and Shanthi, S., (2001), A Perishable Inventory System with Modified (S-1,S) Policy and Arbitrary Processing Times, Computers & Operations Research, 28(5), 453 - 471.
[7] Kalpakam, S. and Shanthi, S., (2006) A Continuous Review Perishable System with Renewal Demands. Annals of Operations Research 143,(1), 211 - 225.
[8] Krishnamoorthy, A. and Islam, M. E.,(2004), inventory system with postponed demands. Stochastic Analysis and Applications 22(3), 827 - 842.
[9] Lian, Z. and Liu, L., (2001), Continuous review perishable inventory systems: Models and heuristics, II- Transactions, 33, 809 - 822.
[10] Liu, L. and Shi, D. H., (1998), An (s, S) model for inventory with exponential lifetimes and renewal demands, Naval Research Logistics, 46, 38 - 56.
[11] Nahmias, S.,(1982), Perishable inventory theory : A review, Operations Research, 30, 680 - 708.
[12] Paul Manuel, Sivakumar, B. and Arivarignan, G.,(2007) Perishable Inventory System with Postponed Demands and Negative Customers, Journal of Applied Mathematics and Decision Sciences, 2007, 1 - 12.
[13] Raafat, F., (1991), A Survey of Literature on Continuously Deteriorating Inventory Models, Journal of Operational Research Society, 42, 27 - 37.
[14] Shah, N. H. and Shah, Y. K., (2000), Literature Survey on Inventory Models for Deteriorating Items, Ekonomski anali, 44, 221 - 237.
[15] Sivakumar, B. and Arivarignan, G.,(2008), An inventory system with postponed demands, Stochastic Analysis and Applications, 26(1), 84 - 97.
[16] Sivakumar, B. and Arivarignan, G.,(2009), A stochastic inventory system with postponed demands, Performance Evaluation, 66, 47 - 58.
[17] Yadavalli V. S. S., CdeW Van Schoor, Strashein, J. J. and Udayabakaran, S., (2004), A single product perishing inventory model with demand interaction. ORiON 20, 109 - 124.
Published
2016-09-15
How to Cite
Jayaraman, R. (2016). A Perishable Inventory System with Postponed Demands and Finite. JOURNAL OF ADVANCES IN MATHEMATICS, 12(8), 6500–6515. https://doi.org/10.24297/jam.v12i8.5070
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