PRODUCTION INVENTORY SYSTEM WITH RANDOM SUPPLY INTERRUPTIONS STATUE AND RANDOM LEAD TIMES |
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| Authors: | Hou Yumei Liu Wenyuan Zhang Qiang Wu Fengqing |
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| Institution: | Hou Yumei 1,2 Liu Wenyuan 1 Zhang Qiang 2 Wu Fengqing 1 1. College of Economics and Management,Yanshan University,Qinhuangdao,066004,China,2. College of Management and Economics,Beijing Institute of Technology,Beijing 100080 |
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| Abstract: | This article analyzes a continuous-review inventory system with random supply interruptions and random lead time which may be interrupted by a random number of supplier's OFF periods. The inventory with constant demand rate is managed by a (r;q1,q2,…,qm) policy and supplies from an unreliable sole supplier. By renewal theory and matrix Geometric method, the long-run average cost function is obtained and some important properties of the function are proved. Furthermore, performance of the inventory is derived. |
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| Keywords: | Markov processes inventory theory supply chain management P Hdistribution order-up-to policy |
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