Sporadic and continuous clearing policies for a production/inventory system under an M/G demand process

David Perry, Wolfgang Stadje, Shelemyahu Zacks

Research output: Contribution to journalArticlepeer-review

Abstract

A production/inventory system is filled continuously at rate 1 and satisfies demands of i.i.d. random sizes that arrive at Poisson times. For this system we consider two clearing policies. Under sporadic review, clearing takes place after a random time independent of the content process. Under continuous review, the system is cleared as soon as the inventory level reaches some pre-specifled threshold. We derive explicit results for the associated expected discounted cost functionals under both types of clearing.

Original languageEnglish
Pages (from-to)354-368
Number of pages15
JournalMathematics of Operations Research
Volume30
Issue number2
DOIs
StatePublished - May 2005

Keywords

  • Production/inventory system
  • Sporadic and continuous clearing policies

ASJC Scopus subject areas

  • Mathematics (all)
  • Computer Science Applications
  • Management Science and Operations Research

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