International Journal of Mathematics and Mathematical Sciences
Volume 25 (2001), Issue 3, Pages 197-203
doi:10.1155/S0161171201003234
On a stochastic inventory model with deteriorating items
1Department of Mathematics and Statistics, Sultan Qaboos University, P.O. Box 36, Al-Khod 123, Oman
2Department of Mathematics and Operations Research, King Saud University, P.O. Box 2455, Riyadh 11451, Saudi Arabia
Received 13 April 1999
Copyright © 2001 L. Aggoun et al. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Abstract
We suggest a new inventory continuous time stochastic model for
deteriorating items. We derive optimal operating characteristics of
the expected cost per unit time under the assumption that
demand in each replenishment cycle forms a regenerative process.
We also present numerical examples.