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Evaluation of base‐stock policies in multiechelon inventory systems with state‐dependent demands. Part II: State‐dependent depot policies

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  • Jing‐Sheng Song
  • Paul H. Zipkin

Abstract

We consider a two‐echelon inventory system where the exogenous demands occur only at the retailer locations, and the demand rates are functions of an underlying continuous‐time Markov chain. This underlying process may represent, for example, general economic conditions, the number of active users in the system, et cetera. Each retailer location follows a base‐stock policy that is independent of the process. However, the warehouse (central depot) follows a state‐dependent base‐stock policy. We develop a procedure to compute the exact steady‐state customer‐delay distribution for both the warehouse and the retailer locations. © 1996 John Wiley & Sons, Inc.

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  • Jing‐Sheng Song & Paul H. Zipkin, 1996. "Evaluation of base‐stock policies in multiechelon inventory systems with state‐dependent demands. Part II: State‐dependent depot policies," Naval Research Logistics (NRL), John Wiley & Sons, vol. 43(3), pages 381-396, April.
    • Handle: RePEc:wly:navres:v:43:y:1996:i:3:p:381-396
    DOI: 10.1002/(SICI)1520-6750(199604)43:33.0.CO;2-5
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    Cited by:

    1. Fangruo Chen & Jing-Sheng Song, 2001. "Optimal Policies for Multiechelon Inventory Problems with Markov-Modulated Demand," Operations Research, INFORMS, vol. 49(2), pages 226-234, April.
    2. Manafzadeh Dizbin, Nima & Tan, Barış, 2020. "Optimal control of production-inventory systems with correlated demand inter-arrival and processing times," International Journal of Production Economics, Elsevier, vol. 228(C).

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