An asymptotic approach for a semi-Markovian inventory model of type (s, S)

Xanıyev T., KOKANGÜL A., Aliyev R.

Applied Stochastic Models in Business and Industry, vol.29, no.5, pp.439-453, 2013 (SCI-Expanded, Scopus) identifier

  • Nəşrin Növü: Article / Article
  • Cild: 29 Say: 5
  • Nəşr tarixi: 2013
  • Doi nömrəsi: 10.1002/asmb.1918
  • jurnalın adı: Applied Stochastic Models in Business and Industry
  • Jurnalın baxıldığı indekslər: Science Citation Index Expanded (SCI-EXPANDED), Scopus
  • Səhifə sayı: pp.439-453
  • Açar sözlər: asymptotic expansion, ergodic moments, inventory model of type (s, S), renewal-reward process, triangular distribution
  • Açıq Arxiv Kolleksiyası: Məqalə
  • Adres: Bəli

Qısa məlumat

In this study, we constructed a stochastic process (X(t)) that expresses a semi-Markovian inventory model of type (s, S) and it is shown that this process is ergodic under some weak conditions. Moreover, we obtained exact and asymptotic expressions for the nth order moments (n = 1,2,3,.) of ergodic distribution of the process X(t), as S - s → ∞. Finally, we tested how close the obtained approximation formulas are to the exact expressions. Copyright © 2012 John Wiley & Sons, Ltd. Copyright © 2012 John Wiley & Sons, Ltd.