Abstract
The steady-state distribution of the inventory position for a continuous review (s, S) inventory system is derived. The demand for items in inventory is dependent on an external environment. During an interval of time in which the environment is in a fixed state, the demand follows a discrete-valued compound Poisson process. The parameters of the compound Poisson process depend completely on the state of the environment. The environmental process is modeled as a continuous-time Markov process.
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