Optimal Control of Postponed Demands in a Continuous Review Inventory System with Two Types of Customers

10.6186/IJIMS.202003_31(1).0001

N. Sangeetha；T. Karthick；B. Sivakumar

Two types of customers ； Postponed demands ； Control of selection rate ； Semi Markov decision process

International Journal of Information and Management Sciences

31卷1期（2020 / 03 / 01）

1 - 14

英文

In this article, we consider a continuous review (s, S) inventory system with two types of customers and exponential lead time. Both types of customers arrive according to independent Poisson processes. When the inventory level is greater than s, both type of customers demands are satisfied. When the inventory level lies between 1 and s, only type-2 customers are satisfied and the type-1 customers are sent to a pool of finite capacity. If the replenished stock is above s, pooled customers are selected one by one and inter-selection time follows exponential distribution. Type-2 customers who arrive during stock out periods leave the system. The problem is to find the optimal selection rate of pool customers at each instant of time so that the long-run total expected cost rate is minimized. The problem is modelled as a semi-Markov decision problem. The stationary optimal policy is computed using the linear programming algorithm.

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