In this paper, we study a priority queueing-inventory problem with two types of customers. Arrival of customers follows Marked Markovian ar-rival process and service times have phase-type distribution with parameters depending on the type of customer in service. For service of each type of customer, a certain number of additional items are needed. High priority cus-tomers do not have waiting space and so leave the system when on their arrival a priority 1 customer is in service or the number of available additional items is less than the required threshold. Preemptive priority is assumed. Type 2 customers, encountering a busy server or idle with the number of available ad-ditional items less than a threshold, go to an orbit of infinite capacity to retry for service. The customers in orbit are non-persistent: if on retrial the server is found to be busy/idle with the number of additional items less than the threshold, this customer abandons the system with certain probability. Such a system represents an accurate enough model of many real-world systems, including wireless sensor networks and system of cognitive radio with energy harvesting and healthcare systems. The probability distribution of the system states is computed, using which several of the characteristics are derived. A detailed numerical study of the system, including the analysis of the influence of the threshold, is performed. © 2020, JOURNAL OF INDUSTRIAL AND MANAGEMENT OPTIMIZATION