Optimal algorithm to determine the spare inventory level for a repairable-item inventory system

Optimal algorithm to determine the spare inventory level for a repairable-item inventory system This article concerns the problem of determining the optimal spare inventory level for a multiechelon repairable-item inventory system, which has several bases and a central depot. When an item fails, it is dispatched to a repair facility, and a spare, if available, is plugged in immediately. We develop an optimal algorithm to find the spare inventory level which minimizes the total expected cost and simultaneously satisfies a specified minimum service rate. The algorithm is applied to examples with good results. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Computers & Operations Research Elsevier

Optimal algorithm to determine the spare inventory level for a repairable-item inventory system

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Publisher
Elsevier
Copyright
Copyright © 1996 Elsevier Ltd
ISSN
0305-0548
eISSN
1873-765X
DOI
10.1016/0305-0548(95)00014-3
Publisher site
See Article on Publisher Site

Abstract

This article concerns the problem of determining the optimal spare inventory level for a multiechelon repairable-item inventory system, which has several bases and a central depot. When an item fails, it is dispatched to a repair facility, and a spare, if available, is plugged in immediately. We develop an optimal algorithm to find the spare inventory level which minimizes the total expected cost and simultaneously satisfies a specified minimum service rate. The algorithm is applied to examples with good results.

Journal

Computers & Operations ResearchElsevier

Published: Mar 1, 1996

References

  • An approximation to the stationary distribution of a multiechelon repairable-item inventory system with finite sources and repair channels
    Albright, S.C.
  • Markovian multiechelon repairable inventory system
    Albright, S.C.; Soni, A.

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