|
|||||
|
|
Two-Commodity Inventory System with Individual and Joint Ordering Policies and Renewal Demands |
|
| Authors: | B Sivakumar N Anbazhagan G Arivarignan |
| Institution: | 1. Department of Applied Mathematics and Statistics , Madurai Kamaraj University , Madurai, Tamilnadu, India sivabkumar@yahoo.com;3. Department of Mathematics , Alagappa University , Karaikudi, Tamilnadu, India;4. Department of Applied Mathematics and Statistics , Madurai Kamaraj University , Madurai, Tamilnadu, India |
| Abstract: | Abstract This article analyzes a two-commodity continuous review inventory system with renewal demands. The ordering policy is a combination of policies namely ordering individual commodities and ordering jointly both commodities. The steady state probability distribution for the joint inventory levels is computed. Various system performance measures in the steady state are derived. The results are illustrated numerically. |
| Keywords: | Continuous review Markov renewal process Semi-Markov kernel Two-commodity inventory system |