An asymptotic approach for a semi‐Markovian inventory model of type (s, S)

• DOI: 10.1002/asmb.1918
• Publication Date: 2012-04-24T12:26:14Z
• Authors: Tahir Khaniyev; Ali Kokangul; Rovshan Aliyev
• Keywords: asymptotic expansion; renewal-reward process; ergodic moments; inventory model of type (s, S); S); triangular distribution; 0101 mathematics; 01 natural sciences; inventory model of type (s

In this study, we constructed a stochastic process ( X t )) that expresses semi‐Markovian inventory model of type s , S ) and it is shown ergodic under some weak conditions. Moreover, obtained exact asymptotic expressions for the n th order moments = 1,2,3, … distribution ), as − → ∞ . Finally, tested how close approximation formulas are to expressions. Copyright © 2012 John Wiley & Sons, Ltd.