A model of base stock system for patient customers with lead time distribution undergoing a parametric change

Author & Affiliation:
S. Sachithanantham (sachin7676@yhaoo.com)
Department of statics, St. Joseph College of Arts and Science, Cuddalore - 6007 001 Tamil Nadu (INDIA)
V. Ganesan
Department of Statics, Periyar EVR College, Trichi - 620 023, Tamil Nadu (INDIA)
R. Sathiyamoorthi
Former Head, Department of Statics, Annamalai University, Annamalainmagar- 608002 (INDIA)
Keyword:
Base stock, Patient Customers SCBZ property, Change point, lead time.
Issue Date:
December 2008
Abstract:

Base Stock system for patient customers in inventory control is a special type of problem which introduces the fact that the shortages do not result in the loss of profit due to the fact that immediately a demand for the product is reported; an order is placed for supply. This is in addition to the inventory on hand called the ground level inventory. Hence the socalled base stock denoted as B is equal to the total of the inventory on ground and the inventory on orders placed. In this paper the optimal value of B is obtained using the fact that the lead time is a random variable and it satisfies the so called Setting the Clock Back to Zero (SCBZ) property which amounts to the change in the parameter of the lead time distribution after a change point.
 

Pages:
651-658
ISSN:
2319-8044 (Online) - 2231-346X (Print)
Source:
DOI:
jusps-A
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Copy the following to cite this article:

S. Sachithanantham; V. Ganesan; R. Sathiyamoorthi, "A model of base stock system for patient customers with lead time distribution undergoing a parametric change", Journal of Ultra Scientist of Physical Sciences, Volume 20, Issue 3, Page Number 651-658, 2018

Copy the following to cite this URL:

S. Sachithanantham; V. Ganesan; R. Sathiyamoorthi, "A model of base stock system for patient customers with lead time distribution undergoing a parametric change", Journal of Ultra Scientist of Physical Sciences, Volume 20, Issue 3, Page Number 651-658, 2018

Available from: https://www.ultrascientist.org/paper/1426/

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