Waiting Time Till Service for a Simple Inventory Model.

R. M. Simon

ResearchPublished 1969

The description of a single-facility, single-consumable-item inventory model in which demands are Poisson, procurement lead-times are either deterministic or exponential, and a continuous review (s, S) replenishment policy is employed. An exact expression is derived for the steady-state expected time that a customer waits to be satisfied. Although this performance measure is not usually studied for inventory models, it is useful for imbedding the facility in a multi-echelon structure. 22 pp. Ref.

Topics

Document Details

  • Copyright: RAND Corporation
  • Availability: Web Only
  • Year: 1969
  • Pages: 22
  • Document Number: RM-5927-PR

Citation

Chicago Manual of Style

Simon, R. M., Waiting Time Till Service for a Simple Inventory Model. Santa Monica, CA: RAND Corporation, 1969. https://www.rand.org/pubs/research_memoranda/RM5927.html.
BibTeX RIS

This publication is part of the RAND research memorandum series. The research memorandum series, a product of RAND from 1948 to 1973, included working papers meant to report current results of RAND research to appropriate audiences.

This document and trademark(s) contained herein are protected by law. This representation of RAND intellectual property is provided for noncommercial use only. Unauthorized posting of this publication online is prohibited; linking directly to this product page is encouraged. Permission is required from RAND to reproduce, or reuse in another form, any of its research documents for commercial purposes. For information on reprint and reuse permissions, please visit www.rand.org/pubs/permissions.

RAND is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.