A periodic review decision model for an inventory system with two demand types
type: Item
instance of: scholarly article
title: A periodic review decision model for an inventory system with two demand types
zbMATH Open document ID: 1486.90006
DOI: 10.1504/IJMOR.2021.119956
author: The Jin Ai
author: Ririn Diar Astanti
author: Huyunh Trung Luong
published in: International Journal of Mathematics in Operational Research
publication date: 2022-02-02T00:00:00Z
review text: Summary: This paper presents a decision model for finding the best policy in a single item inventory system incorporating two kinds of demand, in which each demand type is modelled as an independent compound Poisson process. Some critical model assumptions are infinite planning horizon, infinite replenishment rate, zero lead time, and shortage backorder. A periodic review inventory model is utilised, in which decision variables of the optimisation problem considered in the model are replenishment period and maximum inventory after replenishment. After the mathematical model is developed, optimal decision variables can be obtained.
Mathematics Subject Classification ID: 90B05
zbMATH DE Number: 7468413
zbMATH Keywords: inventory
zbMATH Keywords: periodic review
zbMATH Keywords: compound Poisson process
zbMATH Keywords: model
zbMATH Keywords: optimisation
MaRDI profile type: Publication
description: scientific article; zbMATH DE number 7468413