Mehmet Murat FadilogluOnder BulutFadiloglu, Mehmet MuratBulut, Onder2025-10-0620100167-637710.1016/j.orl.2010.08.004http://dx.doi.org/10.1016/j.orl.2010.08.004https://gcris.yasar.edu.tr/handle/123456789/6560https://doi.org/10.1016/j.orl.2010.08.004We 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.Englishinfo:eu-repo/semantics/closedAccessInventory models, Rationing, Embedded Markov chainsDEMAND CLASSES, INVENTORY MODEL, LOST SALES, POLICYRationingEmbedded Markov ChainsInventory ModelsArticle