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An Application of Regenerative Stochastic Processes to a Problem in Inventory Control

Arthur P. Hurter and Frank C. Kaminsky
Operations Research
Vol. 15, No. 3 (May - Jun., 1967), pp. 467-472
Published by: INFORMS
Stable URL: http://www.jstor.org/stable/168455
Page Count: 6
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An Application of Regenerative Stochastic Processes to a Problem in Inventory Control
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Abstract

The theory of regenerative stochastic processes is applied to the problem of finding the limiting distribution of the number of units in storage for a basic single commodity storage system. In this system two modes of replenishment, called random and regular replenishment, are assumed to be available to the stock controller.

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