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A stochastic inventory system with two modes of service under N-policy

Publication Type : Journal Article

Publisher : Journal of Interdisciplinary Mathematics, Taylor & Francis

Source : Journal of Interdisciplinary Mathematics, Taylor & Francis, Volume 23, Issue 1, p.127–143 (2020)

Url : https://www.tandfonline.com/doi/abs/10.1080/09720502.2020.1721707

Keywords : (s, continuous review policy, Markov process, Optimization, S) inventory system, two servers

Campus : Amritapuri

School : School of Arts and Sciences

Department : Mathematics

Year : 2020

Abstract : We consider a two server stochastic inventory system under N-policy. Demand for the items occurs one at a time according to a Poisson process. Server1 is always available and Server2 is activated on the accumulation of N(>1) demands in the system. As soon as the services of all waiting demands are completed, server2 becomes idle and reactivate only on the accumulation of N units. Assume that service times of both servers are independent and non-identical exponential random variables. We derived the joint probability distribution of the waiting customers, server state and inventory level in the steady state and computed various system performance measures. A cost analysis is carried out and numerical illustrations are provided.

Cite this Research Publication : Dr. Usha Kumari P. V., “A stochastic inventory system with two modes of service under N-policy”, Journal of Interdisciplinary Mathematics, vol. 23, no. 1, pp. 127–143, 2020.

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