Advertisement

Stochastic Models with Continuous Review

  • Dieter Bartmann
  • Martin J. Beckmann
Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 388)

Abstract

We already encountered in §23 an inventory model with continuous review. A Poisson demand was assumed. It was shown that under this special assumption the optimal order quantity D is the same as that in the deterministic model with a constant demand rate. D was obtained using the Wilson formula. The interpretation of the objective function C in the stochastic sense led to the method of state probabilities.

Keywords

Stochastic Model Inventory Model Delivery Time Inventory Level Order Quantity 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Copyright information

© Springer-Verlag Berlin Heidelberg 1992

Authors and Affiliations

  • Dieter Bartmann
    • 1
  • Martin J. Beckmann
    • 2
  1. 1.Institute of Information ManagementUniversity of St. Gallen for Business, Administration, Economics, Law and Social SciencesSt. GallenSwitzerland
  2. 2.Institute of Applied Mathematics and StatisticsTechnical University of MunichMünchen 2Germany

Personalised recommendations