Limit Distribution of Inventory Level of Perishable Inventory Model

Abstract EN

This paper studies a perishable inventory model, which assumes that each perishable item has finite lifetime, and only one item is consumed each time.

The lifetimes of perishable items are independent random variables with the general distribution and so are the consumption internal.

Under this assumption, by using backward equations and limit distribution of Markov skeleton processes, this paper obtains the existence conditions and the explicit expression of the limit distribution of the inventory level of perishable inventory model.