English, Article edition: TWO COMMODITY COORDINATED INVENTORY SYSTEM WITH MARKOVIAN DEMAND V. S. S. YADAVALLI; G. ARIVARIGNAN; N. ANBAZHAGAN

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Bookmark: http://trove.nla.gov.au/version/131469
Physical Description
  • article
Language
  • English

Edition details

Title
  • TWO COMMODITY COORDINATED INVENTORY SYSTEM WITH MARKOVIAN DEMAND
Author
  • V. S. S. YADAVALLI
  • G. ARIVARIGNAN
  • N. ANBAZHAGAN
Physical Description
  • article
Notes
  • This paper considers a two commodity continuous review inventory system. The demand points for each commodity are assumed to form Poisson processes. It is further assumed that the demand for the first commodity require the one unit of second commodity in addition to the first commodity with probability p1. Similarly, the demand for the second commodity require the one unit of first commodity in addition to the second commodity with probability p2. This assumption model the situation in which a buyer who intends to buy one particular commodity may also go for another commodity. The limiting probability distribution for the joint inventory levels is computed. Various operational characteristics, expression for the long run total expected cost rate is derived. The results are illustrated with numerical examples.
  • Markovian demand, continuous review inventory system, limiting probability distribution, joint inventory level, reordering policy
  • RePEc:wsi:apjorx:v:23:y:2006:i:04:p:497-508
Language
  • English
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