Template-Type: ReDIF-Paper 1.0
Author-Name: Bazsa-Oldenkamp, E.M.
Author-Name-Last: Bazsa-Oldenkamp
Author-Name-First: Emö
Author-Name: Frenk, J.B.G.
Author-Name-Last: Frenk
Author-Name-First: Hans
Author-Name: den Iseger, P.
Author-Name-Last: den Iseger
Title: Inventory control and regenerative processes
Abstract: In this paper we will discuss a general framework for single item inventory models based on the theory of regenerative processes. After resenting without proof the main theorems for regenerative processes we analyze in detail how the different single item models can be embedded within this general theory. This facilitates to write down the expressions for the average cost associated with an arbitrary costrate function f. Since these
 expressions are still complicated, involving convolutions, we use a recently developed
 numerically stable Laplace inversion algorithm to compute these objective functions in
 MATLAB. This enables us to compute the exact costs instead of using approximations.
Creation-Date: 1998-12-31
Series: RePEc:ems:eureir
Number: EI 9848
Keywords: regenerative processes, single item inventory models
Handle: RePEc:ems:eureir:1527