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Author
Bombala Wojciech (Uniwersytet Ekonomiczny we Wrocławiu), Michna Zbigniew (Uniwersytet Ekonomiczny we Wrocławiu)
Title
Stochastic Simulations of Storage and Inventory Systems
Source
Mathematical Economics, 2012, nr 8(15), s. 17-28, wykr., bibliogr. 16 poz.
Keyword
Przechowalnictwo, Procesy stochastyczne
Storage, Stochastic processes
Note
summ.
Abstract
This article aims to present the applications of Lévy processes for the stochastic modeling of storage resources. Two cases were considered. In the first one, the volume of supplies to the storehouse is described by a random process (Lévy process), while issuing the products is described by a deterministic and linear function. The second case is reversed: the delivery to the storehouse is described by a linear function (variable: time), while issuing the goods is described by a Lévy process. For both cases the form of the stock level process and examples of its trajectories, when the net supply is a Lévy process, are given. We investigated the following net supply processes: gamma process, α-stable Lévy process with α = 0.5, Cauchy process, Wiener process.(original abstract)
Accessibility
The Main Library of the Cracow University of Economics
The Library of Warsaw School of Economics
The Library of University of Economics in Katowice
The Main Library of Poznań University of Economics and Business
The Main Library of the Wroclaw University of Economics
Bibliography
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ISSN
1733-9707
Language
eng
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