Equilibrium strategies of customers and optimal inventory levels in a make-to-stock retrial queueing system

Yuejiao Wang; Chenguang Cai; Yuejiao Wang; Chenguang Cai

doi:10.3934/math.2024596

AIMS Mathematics

2024, Volume 9, Issue 5: 12211-12224. doi: 10.3934/math.2024596

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Research article

Equilibrium strategies of customers and optimal inventory levels in a make-to-stock retrial queueing system

Yuejiao Wang ¹,
Chenguang Cai ^{2
,
,}

1.
School of Mathematics and Statistics, Hunan First Normal University, 410205, Changsha, China
2.
School of Accounting, Hunan University of Finance and Economics, 410205, Changsha, China

Received: 19 December 2023 Revised: 09 February 2024 Accepted: 08 March 2024 Published: 28 March 2024
MSC : 60K25, 91A80

We examined a retrial make-to-stock system based on a double-ended queue. When the queue length was negative, the inventory system contained only products, and customers were waiting in the retrial queue when the queue length was positive. We developed a model to study the expected cost of the entire system with strategic customers in the observable case and the fully observable case. We also obtained the optimal inventory levels under these two levels of information based on numerical experiments.
- make to stock,
- retrial queue,
- double-ended,
- equilibrium strategies,
- optimal inventory level
Citation: Yuejiao Wang, Chenguang Cai. Equilibrium strategies of customers and optimal inventory levels in a make-to-stock retrial queueing system[J]. AIMS Mathematics, 2024, 9(5): 12211-12224. doi: 10.3934/math.2024596

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Abstract

We examined a retrial make-to-stock system based on a double-ended queue. When the queue length was negative, the inventory system contained only products, and customers were waiting in the retrial queue when the queue length was positive. We developed a model to study the expected cost of the entire system with strategic customers in the observable case and the fully observable case. We also obtained the optimal inventory levels under these two levels of information based on numerical experiments.

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