Stochastic Model of Three Products Inventory System Assuming Seasonal Demand Following Exponential Distribution
D. Kanagajothi1, S. Srinivasaragavan2
1D. Kanagajothi, Department of Mathematics, Vel Tech Rangarajan Dr.Sagunthala R&D Institute of Science and Technology, Avadi, Chennai, Tamil Nadu, India.
2S. Srinivasaragavan, Department of Mathematics, Vel Tech Rangarajan Dr.Sagunthala R&D Institute of Science and Technology, Avadi, Chennai, Tamil Nadu, India.
Manuscript received on 11 September 2019 | Revised Manuscript received on 20 September 2019 | Manuscript Published on 11 October 2019 | PP: 694-697 | Volume-8 Issue-11S September 2019 | Retrieval Number: K111809811S19/2019©BEIESP | DOI: 10.35940/ijitee.K1118.09811S19
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open-access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: In this paper we discuss the production and sales of three different products A, B and C with maximum production size as k sets of them. The production of the products A, B and C are done in order. When one set of A, B, and C is produced, the production of the next set starts. The sales of the sets begin when k sets are produced or when the season for the products starts whichever occurs first.The production times of the products are assumed to have general distributions and the season starts in an exponential time. The double Laplace Transform of production and sale time and their means are obtained. Numerical examples are presented.
Keywords: words: Inventory systems, production models, stochastic models.
Scope of the Article: Production