Simple modeling techniques for base-stock inventory systems with state dependent demand rates

In this paper new modeling techniques of $(S-1,S) inventory systems (continuous review base-stock inventory systems) with state dependent demand rates are proposed. Examples of single-location (S-1,S) inventory systems where the demand, experienced by the system, varies due to the state of the system are, e.g., inventory models with partial backorders, inventory models with lost sales, inventory models with perishable items, inventory...