Journal article
Production/Clearing Models Under Continuous and Sporadic Reviews
Abstract
We consider production/clearing models where random demand for a product is generated by customers (e.g., retailers) who arrive according to a compound Poisson process. The product is produced uniformly and continuously and added to the buffer to meet future demands. Allowing to operate the system without a clearing policy may result in high inventory holding costs. Thus, in order to minimize the average cost for the system we introduce two …
Authors
Berman O; Parlar M; Perry D; Posner MJM
Journal
Methodology and Computing in Applied Probability, Vol. 7, No. 2, pp. 203–224
Publisher
Springer Nature
Publication Date
June 2005
DOI
10.1007/s11009-005-1483-1
ISSN
1387-5841