Inventory models with continuous, stochastic demands. (English) Zbl 0732.60080

Browne, Sidney; Zipkin, Paul

Ann. Appl. Probab. 1, No. 3, 419-435 (1991).

The authors consider the inventory model: time is continuous data stationary and orders are placed with an outside supplier and they arrive after a constant or stochastic lead time and all stockouts are back ordered. The author has derived the insensitivity property for a general state space and has provided the computation of functions describing leadtime demand.

Reviewer: N.C.Mohanty (Huntington Beach)

MSC:

60J25	Continuous-time Markov processes on general state spaces
90B05	Inventory, storage, reservoirs

Keywords:

inventory model; insensitivity property