A PERISHABLE PRODUCT INVENTORY SYSTEM OPERATING IN A RANDOM ENVIRONMENT

Authors

  • V.S.S. Yadavalli Department of Industrial and Systems Engineering University of Pretoria
  • C. de W. Van Schoor Department of Industrial and Systems Engineering University of Pretoria

DOI:

https://doi.org/10.7166/15-2-208

Abstract

ENGLISH ABSTRACT: A model of a perishable product inventory system operating in a random environment is studied. For the sake of simplicity, the stochastic environment is considered to alternate randomly over time between two states 0 and 1 according to an alternating renewal process. When the environment is in state k , the items in the inventory have a perishing rate k ? , the demand rate is k ? and the replenishment cost is k CR . Assuming instantaneous replenishment at the epoch of the first demand after the stock-out and associating a Markov renewal process with the inventory system, the stationary distribution of the inventory level and the performance of various measures of the system evolution are obtained. Numerical examples illustrate the results obtained.

AFRIKAANSE OPSOMMING:

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Published

2011-11-05

How to Cite

Yadavalli, V., & Van Schoor, C. de W. (2011). A PERISHABLE PRODUCT INVENTORY SYSTEM OPERATING IN A RANDOM ENVIRONMENT. The South African Journal of Industrial Engineering, 15(2). https://doi.org/10.7166/15-2-208

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Section

General Articles

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