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|Title: ||A discrete-time model for perishable inventory systems|
|Authors: ||Lian, Zhaotong|
Neuts, Marcel F.
|Issue Date: ||1996 |
|Citation: ||International Conference on Management Science and the Economic Development of China, July 16-19, 1996, Hong Kong. Conference Proceedings vol 1, p. 340-348|
|Abstract: ||In this paper we consider a discrete-time (s, S) model for perishable inventory in which the stored items have a common lifetime with a discrete phase-type distribution. We assume that demands arrive in batches following a discrete PH-renewal process, the lead time is zero and shortages are permitted. By constructing a multi-dimensional Markov chain, we obtain closed form solutions for the steady state probability distribution of the inventory level and for other system performance measures. We then construct a closed form expected cost function. We also discuss a special case in which the common lifetime is a constant and provide a numerical example.|
|Appears in Collections:||IELM Conference Papers|
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