Title: A single product perishable inventory system with compulsory waiting period for reordering and with stochastic lead-time

Authors: Venkata S.S. Yadavalli; S. Udayabaskaran

Addresses: Department of Industrial and System Engineering, University of Pretoria, Pretoria 0002, South Africa ' Department of Mathematics, Vel Tech Rangarajan Dr. Sagunthala R&D Institute of Science and Technology, Avadi, Chennai 600062, India

Abstract: A continuous review of single product perishable stochastic inventory system is considered in which a reorder can be placed only after the expiry of a compulsory waiting period (CWP) even if the inventory position of the system demands an earlier placement of a reorder. There is a stochastic lead-time for replenishment. The steady-state probability distribution for the inventory level is explicitly found. Performance measures such as stationary mean number of replenishment, mean number of demand satisfied and mean number of demand lost are explicitly found. A numerical illustration is provided to highlight the behaviour of performance measures of the model. [Received 28 July 2017; Revised 10 January 2018; Accepted 13 April 2018]

Keywords: stochastic inventory system; perishable item; reorder; compulsory waiting period; CWP; lead-time.

DOI: 10.1504/EJIE.2018.094598

European Journal of Industrial Engineering, 2018 Vol.12 No.5, pp.682 - 707

Received: 08 May 2021
Accepted: 12 May 2021

Published online: 28 Aug 2018 *

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