Analysis of a Two-Echelon Inventory Model with Lost Sales and Stochastic Demand using Continuous-Time Markov Chain, M.Sc. Thesis Sharif University of Technology ; Haji, Rasoul (Supervisor)
Abstract
In this paper, we studied a two-echelon inventory system which consists of one central warehouse and one retailer. All installations follow base stock inventory management policy. The customers arrive at retailer according to Poisson distribution. The demand is satisfied when both central warehouse and retailer have positive on-hand inventory. Otherwise, the demand is lost. The lead time of central warehouse and the time needed to replenish orders of retailer are assumed to be exponentially distributed. The purpose of this study is to minimize the expected long-run total cost of the system per unit time. Total cost of the system includes holding costs of central warehouse and retailer, cost...
Cataloging briefAnalysis of a Two-Echelon Inventory Model with Lost Sales and Stochastic Demand using Continuous-Time Markov Chain, M.Sc. Thesis Sharif University of Technology ; Haji, Rasoul (Supervisor)
Abstract
In this paper, we studied a two-echelon inventory system which consists of one central warehouse and one retailer. All installations follow base stock inventory management policy. The customers arrive at retailer according to Poisson distribution. The demand is satisfied when both central warehouse and retailer have positive on-hand inventory. Otherwise, the demand is lost. The lead time of central warehouse and the time needed to replenish orders of retailer are assumed to be exponentially distributed. The purpose of this study is to minimize the expected long-run total cost of the system per unit time. Total cost of the system includes holding costs of central warehouse and retailer, cost...
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