Replenishment cost of a storage system modelled through a defective renewal equation
A storage system where a k units stock is replaced instantaneously, when required, is presented in this work. It is also supposed a Poisson demand. It is proved that the storage system replenishment cost expected present value function fulfills a defective renewal equation, being proposed for it an asymptotic expression.
Keywords: Stochastic inventory theory, present value function, renewal equation
Manuel Alberto M. Ferreira. Replenishment cost of a storage system modelled through a defective renewal equation. Acta Scientiae et Intellectus, 1(4), 23-27.
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