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An Application of Regenerative Stochastic Processes to a Problem in Inventory Control

Author

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  • Arthur P. Hurter

    (Northwestern University, Evanston, Illinois)

  • Frank C. Kaminsky

    (University of Massachusetts, Amherst, Massachusetts)

Abstract

The theory of regenerative stochastic processes is applied to the problem of finding the limiting distribution of the number of units in storage for a basic single commodity storage system. In this system two modes of replenishment, called random and regular replenishment, are assumed to be available to the stock controller.

Suggested Citation

  • Arthur P. Hurter & Frank C. Kaminsky, 1967. "An Application of Regenerative Stochastic Processes to a Problem in Inventory Control," Operations Research, INFORMS, vol. 15(3), pages 467-472, June.
    • Handle: RePEc:inm:oropre:v:15:y:1967:i:3:p:467-472
    DOI: 10.1287/opre.15.3.467
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