Abstract
This paper considers a continuous review perishable inventory system with an infinite orbit. The replenishment of items in the inventory is governed by (s, Q) policy. The Markovian Arrival Process characterizes the arrival pattern of primary customers and the service time follows phase-type distribution. Inventoried items are subject to decay with some preassigned linear rate. The items are purchased from an outside source and lead time is exponentially distributed. An unsatisfied primary customer may enter an orbit or exit the system with a predetermined probability. The retrial customers, those who entered into the orbit, try to access the idle server with a linear rate. An unsatisfied retrial customer may enter or exit the orbit with prefixed probability based on the inventory level. Stationary probability vectors are obtained using the Matrix Analytic method. Numerical optimization of the profit function is carried out for different parameter values.
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