Analysis of two commodity Markovian inventory system with lead time

  • N. Anbazhagan
  • G. Arivarignan


A two commodity continuous review inventory system with independent Poisson processes for the demands is considered in this paper. The maximum inventory level for the i-th commodity is fixed asS i (i = 1,2). The net inventory level at timet for the i-th commodity is denoted byI i(t),i = 1,2. If the total net inventory levelI(t) =I 1(t) +I 2(t) drops to a prefixed level\(s[ \leqslant \tfrac{{(S_1 - 2)}}{2}or\tfrac{{(S_2 - 2)}}{2}]\), an order will be placed for (S is) units of i-th commodity(i=1,2). The probability distribution for inventory level and mean reorders and shortage rates in the steady state are computed. Numerical illustrations of the results are also provided.

AMS Mathematics Subject Classification

60J27 90B05 

Keywords and phrases

Inventory models Joint replenishment Stochastic lead times Markov process 


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Copyright information

© Korean Society for Computational and Applied Mathematics 2001

Authors and Affiliations

  • N. Anbazhagan
    • 1
  • G. Arivarignan
    • 1
  1. 1.Department of Applied Mathematics and StatisticsMadurai Kamaraj UniversityMaduraiIndia

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