Fadiloglu, Mehmet MuratBulut, Onder2023-06-162023-06-1620100167-6377https://doi.org/10.1016/j.orl.2010.08.004https://hdl.handle.net/20.500.14365/1358We propose a new method for the analysis of lot-per-lot inventory systems with backorders under rationing. We introduce an embedded Markov chain that approximates the state-transition probabilities. We provide a recursive procedure for generating these probabilities and obtain the steady-state distribution. (C) 2010 Elsevier B.V. All rights reserved.eninfo:eu-repo/semantics/closedAccessInventory modelsRationingEmbedded Markov chainsDemand ClassesInventory ModelLost SalesPolicyArticle10.1016/j.orl.2010.08.0042-s2.0-77958082671