IDEAS home Printed from https://ideas.repec.org/a/inm/oropre/v9y1961i5p635-649.html
   My bibliography  Save this article

Operating Characteristics of a Simple Production, Inventory-Control Model

Author

Listed:
  • D. P. Gaver

    (Department of Mathematics, Westinghouse Research Laboratories, Pittsburgh, Pennsylvania)

Abstract

Queuing theory is adapted to study the coordination of a continuous-level production rate with a base-stock level inventory policy, where the latter is depleted by a particular random demand process. Figures of merit for the combined production, inventory system (such as stock-out probability and expected demand delay, average inventory level, and production idleness probability) are given in terms of demand parameters, production rate, and maximum stock level. Costs are discussed, and a criteria is given for deciding when the stocking of inventory is economically desirable. Improvements in the model are proposed.

Suggested Citation

  • D. P. Gaver, 1961. "Operating Characteristics of a Simple Production, Inventory-Control Model," Operations Research, INFORMS, vol. 9(5), pages 635-649, October.
    • Handle: RePEc:inm:oropre:v:9:y:1961:i:5:p:635-649
    DOI: 10.1287/opre.9.5.635
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.1287/opre.9.5.635
    Download Restriction: no
    File URL: https://libkey.io/10.1287/opre.9.5.635?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Sajadieh, Mohsen S. & Larsen, Christian, 2015. "A coordinated manufacturer-retailer model under stochastic demand and production rate," International Journal of Production Economics, Elsevier, vol. 168(C), pages 64-70.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:inm:oropre:v:9:y:1961:i:5:p:635-649. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Asher (email available below). General contact details of provider: https://edirc.repec.org/data/inforea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.