Performance analysis of a fluid production/inventory model with state-dependence
Autor(en): | Berman, Oded Perry, David Stadje, Wolfgang |
Stichwörter: | COST CRITERION; EOQ; fluid model; INVENTORY MODEL; LIMITED PRODUCTION CAPACITY; long-run average revenue; Mathematics; maximization; production/inventory model; reward functionals; state-dependent production rate; Statistics & Probability; stock-level process; SYSTEM; UNCERTAIN DEMANDS | Erscheinungsdatum: | 2007 | Herausgeber: | SPRINGER | Journal: | METHODOLOGY AND COMPUTING IN APPLIED PROBABILITY | Volumen: | 9 | Ausgabe: | 4 | Startseite: | 465 | Seitenende: | 481 | Zusammenfassung: | We study the long-run average performance of a fluid production/ inventory model which alternates between ON periods and OFF periods. During ON periods of random lengths items are added continuously, at some state-dependent rate, to the inventory. During OFF periods the content decreases (again at some state-dependent rate) back to some basic level. We derive the pertinent reward functionals in closed form. For this analysis the steady-state distributions of the stock level process and its jump counterpart are required. In several examples we use the obtained explicit formulas to maximize the long-run average net revenue numerically. |
ISSN: | 13875841 | DOI: | 10.1007/s11009-006-9000-8 |
Zur Langanzeige
Seitenaufrufe
3
Letzte Woche
0
0
Letzter Monat
0
0
geprüft am 17.05.2024