An embedded Markov chain approach to stock rationing

被引:20
|
作者
Fadiloglu, Mehmet Murat [1 ]
Bulut, Onder [2 ]
机构
[1] Izmir Univ Econ, Dept Ind Syst Engn, Izmir, Turkey
[2] Yasar Univ, Dept Ind Engn, Izmir, Turkey
关键词
Inventory models; Rationing; Embedded Markov chains; DEMAND CLASSES; INVENTORY MODEL; LOST SALES; POLICY;
D O I
10.1016/j.orl.2010.08.004
中图分类号
C93 [管理学]; O22 [运筹学];
学科分类号
070105 ; 12 ; 1201 ; 1202 ; 120202 ;
摘要
We propose a new method for the analysis of lot-per-lot inventory systems with backorders under rationing. We introduce an embedded Markov chain that approximates the state-transition probabilities. We provide a recursive procedure for generating these probabilities and obtain the steady-state distribution. (C) 2010 Elsevier B.V. All rights reserved.
引用
收藏
页码:510 / 515
页数:6
相关论文
共 50 条
  • [1] An embedded Markov chain approach to stock rationing under batch orders
    Fadiloglu, Mehmet Murat
    Bulut, Onder
    [J]. OPERATIONS RESEARCH LETTERS, 2019, 47 (02) : 92 - 98
  • [2] A multivariate Markov chain stock model
    D'Amico, Guglielmo
    de Blasis, Riccardo
    [J]. SCANDINAVIAN ACTUARIAL JOURNAL, 2019, : 272 - 291
  • [3] Stock valuation along a Markov chain
    Ghezzi, LL
    Piccardi, C
    [J]. APPLIED MATHEMATICS AND COMPUTATION, 2003, 141 (2-3) : 385 - 393
  • [4] STOCK RATIONING
    KAPLAN, A
    [J]. MANAGEMENT SCIENCE SERIES A-THEORY, 1969, 15 (05): : 260 - 267
  • [5] Multivariate Markov chain modeling for stock markets
    Maskawa, J
    [J]. PHYSICA A-STATISTICAL MECHANICS AND ITS APPLICATIONS, 2003, 324 (1-2) : 317 - 322
  • [6] EMBEDDED MARKOV CHAIN APPROXIMATIONS IN SKOROKHOD TOPOLOGIES
    Boettcher, Bjoern
    [J]. PROBABILITY AND MATHEMATICAL STATISTICS-POLAND, 2019, 39 (02): : 259 - 277
  • [7] Embedded Markov chain approach to retrial queue with vacation, phase repair and multioptional services
    Jain M.
    Bhagat A.
    [J]. OPSEARCH, 2015, 52 (4) : 782 - 809
  • [8] A Markov chain approach to baseball
    Bukiet, B
    Harold, ER
    Palacios, JL
    [J]. OPERATIONS RESEARCH, 1997, 45 (01) : 14 - 23
  • [9] Valuation of stock loans under a Markov chain model
    Prager, David
    Zhang Qing
    [J]. JOURNAL OF SYSTEMS SCIENCE & COMPLEXITY, 2016, 29 (01) : 171 - 186
  • [10] Stock Market Modelling Using Markov Chain Analysis
    Svoboda, Milan
    [J]. PROCEEDINGS OF THE 11TH INTERNATIONAL CONFERENCE ON LIBEREC ECONOMIC FORUM 2013, 2013, : 551 - 557