The paper considers a continuous review (s,S) inventory system where the interarrival times of the customers and the quantities demanded by them (demand batch sizes) form two independent and identically distributed sequences. The performance of several easy-to-compute optimal policy approximations based on the asymptotic renewal theory are evaluated. The results are tabulated for a wide range of parameter settings for gamma, log-normal, truncated normal, Weibull and inverse Gaussian batch size distributions. The interarrival time distributions are assumed to be exponential following [1, 2]. The exact policy is computed by a search routine using the numerical methods of McConalogue [3, 4].
机构:
Department of Industrial Systems Engineering, School of Engineering and Technology, Asian Institute of Technology, PathumthaniDepartment of Industrial Systems Engineering, School of Engineering and Technology, Asian Institute of Technology, Pathumthani
机构:
City Univ Hong Kong, Coll Business, Dept Management Sci, Kowloon, Hong Kong, Peoples R ChinaWuhan Univ, Sch Econ & Management, Wuhan 430072, Peoples R China
Chen, Youhua
Lu, Ye
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City Univ Hong Kong, Coll Business, Dept Management Sci, Kowloon, Hong Kong, Peoples R ChinaWuhan Univ, Sch Econ & Management, Wuhan 430072, Peoples R China
Lu, Ye
Xu, Minghui
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Wuhan Univ, Sch Econ & Management, Wuhan 430072, Peoples R ChinaWuhan Univ, Sch Econ & Management, Wuhan 430072, Peoples R China
机构:
City Univ Hong Kong, Coll Business, Dept Management Sci, Hong Kong, Hong Kong, Peoples R ChinaCity Univ Hong Kong, Coll Business, Dept Management Sci, Hong Kong, Hong Kong, Peoples R China
Yu, Yimin
Shou, Biying
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City Univ Hong Kong, Coll Business, Dept Management Sci, Hong Kong, Hong Kong, Peoples R ChinaCity Univ Hong Kong, Coll Business, Dept Management Sci, Hong Kong, Hong Kong, Peoples R China
Shou, Biying
Ni, Yaodong
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Univ Int Business & Econ, Sch Informat Technol & Management, Beijing, Peoples R ChinaCity Univ Hong Kong, Coll Business, Dept Management Sci, Hong Kong, Hong Kong, Peoples R China
Ni, Yaodong
Chen, Li
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City Univ Hong Kong, Coll Business, Dept Management Sci, Hong Kong, Hong Kong, Peoples R ChinaCity Univ Hong Kong, Coll Business, Dept Management Sci, Hong Kong, Hong Kong, Peoples R China