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Multiple replenishment orders in a continuous-review inventory system with lost sales

Authors
Journal
Operations Research Letters
0167-6377
Publisher
Elsevier
Publication Date
Volume
30
Issue
2
Identifiers
DOI: 10.1016/s0167-6377(02)00108-6
Keywords
  • Inventory
  • Lost Sales
  • Multiple Replenishments
  • Splitting Orders

Abstract

Abstract For a continuous-review inventory system with lost sales, non-unit-sized demand, multiple replenishment orders outstanding, and split deliveries, we derive the stationary distribution of the on-hand inventory using a level-crossing methodology. This distribution is then used to formulate an exact expression for the long-run average cost per unit time. Some numerical results are also presented.

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