Analysis of Some Single and Two Commodity Inventory Problems

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Analysis of Some Single and Two Commodity Inventory Problems

Show simple item record Merlymole,K Joseph Krishnamoorthy,A 2008-05-23T10:02:11Z 2008-05-23T10:02:11Z 2001
dc.description.abstract This thesis is devoted to the study of some stochastic models in inventories. An inventory system is a facility at which items of materials are stocked. In order to promote smooth and efficient running of business, and to provide adequate service to the customers, an inventory materials is essential for any enterprise. When uncertainty is present, inventories are used as a protection against risk of stock out. It is advantageous to procure the item before it is needed at a lower marginal cost. Again, by bulk purchasing, the advantage of price discounts can be availed. All these contribute to the formation of inventory. Maintaining inventories is a major expenditure for any organization. For each inventory, the fundamental question is how much new stock should be ordered and when should the orders are replaced. In the present study, considered several models for single and two commodity stochastic inventory problems. The thesis discusses two models. In the first model, examined the case in which the time elapsed between two consecutive demand points are independent and identically distributed with common distribution function F(.) with mean  (assumed finite) and in which demand magnitude depends only on the time elapsed since the previous demand epoch. The time between disasters has an exponential distribution with parameter . In Model II, the inter arrival time of disasters have general distribution (F.) with mean  ( ) and the quantity destructed depends on the time elapsed between disasters. Demands form compound poison processes with inter arrival times of demands having mean 1/. It deals with linearly correlated bulk demand two Commodity inventory problem, where each arrival demands a random number of items of each commodity C1 and C2, the maximum quantity demanded being a (< S1) and b(<S2) respectively. The particular case of linearly correlated demand is also discussed en_US
dc.language.iso en en_US
dc.publisher Department of Mathematics, Faculty of Science en_US
dc.subject Single commodity inventory problems en_US
dc.subject Disasters en_US
dc.subject Correlated inventory models en_US
dc.title Analysis of Some Single and Two Commodity Inventory Problems en_US
dc.type Thesis en_US

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