Developing a closed-form cost expression for an (R,s,nQ ) policy where the demand process is compound generalized Erlang

Authors:
Christian Larsen;G. P. KiesmüLler
Affiliations:
Department of Business Studies, Aarhus School of Business, Fuglesangs Allé 4, DK-8210 Aarhus V, Denmark;Faculty of Technology Management, Technical University Eindhoven, P.O. Box 513, 5600 MB Eindhoven, The Netherlands
Venue:
Operations Research Letters
Year:
2007

Citing 3
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Abstract

We derive a closed-form cost expression for an (R,s,nQ) inventory control policy where all replenishment orders have a constant lead-time, unfilled demand is back-logged and inter-arrival times of order requests are generalized Erlang distributed. For given values of Q and R we show how to compute the optimal reorder level s.