International Journal of Applied Science and Engineering Research
  • Year: 2013
  • Volume: 2
  • Issue: 6

Two commodity perishable inventory system with negative and Impatient customers, postponed demands and a finite population

Department of Mathematics, Alagappa University, Karaikudi – 630 004, India

*Corresponding author e-mail: jegan.nathan85@yahoo.com

Online published on 11 September, 2014.

Abstract

In this article, we consider a stochastic inventory system with two different items in stock, one is major item (first commodity) and other is gift item (second commodity), and the demands originate from a finite population of N sources. The maximum storage capacity for the i-th commodity is Si (i=1, 2) time points of demand occurrences form independent quasi random distributions. The second commodity is supplied as a gift whenever the demand occurs for the first commodity, but no major item (first commodity) is provided as a gift for demanding a second commodity. The items are perishable in nature. If the inventory position of first commodity is zero then any arriving demand for the first commodity either enters a pool or leaves the system according to a Bernoulli trial. The system has been identified as a Markov process and the system performance measures are derived. The total expected cost rate is also considered and the results are illustrated numerically.

Keywords

Compliment item, continuous time inventory system, postponed demand, negative customers, perishable inventory, and finite population