June 2006
Beginner
793 pages
20h 59m
English
Content preview from Quantitative Techniques: Theory and ProblemsBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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APPLICABILITY OF QUEUING MODEL TO INVENTORY PROBLEMS
Queues are common feature in inventory problems. We are confronted with queue-like situations in stores for spare parts in which machines wait for components and spare parts in service station. We can also look at the flow of materials as inventory queues in which demands wait in lines, conversely materials also wait in queues for demands to be served. If there is a waiting line of demands, inventory state tends to be higher than necessary. Also, if there is a negative state of inventories, then demands form a queue and remain unfulfilled.
Thus, the management is faced with the problem of choosing a combination of controllable quantities that minimise losses resulting from the delay of some ...
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