Simple modeling techniques for base-stock inventory systems with state dependent demand rates
In this paper new modeling techniques of (S- 1 , S) inventory systems (continuous review base-stock inventory systems) with state dependent demand rates are proposed. Examples of single-location (S- 1 , S) inventory systems where the demand, experienced by the system, varies due to the state of the system are, e.g., inventory models with partial backorders, inventory models with lost sales, invent