Residential College | false |
Status | 已發表Published |
A Discrete-Time Model for Common Lifetime Inventory Systems | |
Zhaotong Lian1; Liming Liu2; Marcel F. Neuts3 | |
2005-08 | |
Source Publication | Mathematics of Operations Research |
ABS Journal Level | 3 |
ISSN | 0364-765X |
Volume | 30Issue:3Pages:718-732 |
Abstract | We consider a discrete-time (s, S) inventory model in which the stored items have a random common lifetime with a discrete phase-type distribution. Demands arrive in batches following a discrete phase-type renewal process. With zero lead time and allowing backlogs, we construct a multidimensional Markov chain to model the inventory-level process. We obtain a closed-form expected cost function. Numerical results demonstrate some properties of optimal ordering policies and cost functions. When compared with the results for the constant lifetime model, the variance of the lifetime significantly affects the system behavior. Thus, the formalism that we create here adds a new dimension to the research in perishable inventory control under uncertainty in lifetime. |
Keyword | Discrete-time Model Optimization Perishable Inventory Random Common Lifetime |
DOI | 10.1287/moor.1040.0133 |
URL | View the original |
Indexed By | SCIE |
Language | 英語English |
WOS Research Area | Operations Research & Management Science ; Mathematics |
WOS Subject | Operations Research & Management Science ; Mathematics, Applied |
WOS ID | WOS:000231792300010 |
Publisher | INFORMS, 5521 RESEARCH PARK DR, SUITE 200, CATONSVILLE, MD 21228 USA |
The Source to Article | Scopus |
Scopus ID | 2-s2.0-31144444269 |
Fulltext Access | |
Citation statistics | |
Document Type | Journal article |
Collection | DEPARTMENT OF ACCOUNTING AND INFORMATION MANAGEMENT University of Macau |
Corresponding Author | Zhaotong Lian |
Affiliation | 1.University of Macau 2.Hong Kong University of Science and Technology 3.University of Arizona |
First Author Affilication | University of Macau |
Corresponding Author Affilication | University of Macau |
Recommended Citation GB/T 7714 | Zhaotong Lian,Liming Liu,Marcel F. Neuts. A Discrete-Time Model for Common Lifetime Inventory Systems[J]. Mathematics of Operations Research, 2005, 30(3), 718-732. |
APA | Zhaotong Lian., Liming Liu., & Marcel F. Neuts (2005). A Discrete-Time Model for Common Lifetime Inventory Systems. Mathematics of Operations Research, 30(3), 718-732. |
MLA | Zhaotong Lian,et al."A Discrete-Time Model for Common Lifetime Inventory Systems".Mathematics of Operations Research 30.3(2005):718-732. |
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