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

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Article ID: iaor19961955
Country: United Kingdom
Volume: 23
Issue: 3
Start Page Number: 289
End Page Number: 297
Publication Date: Mar 1996
Journal: Computers and Operations Research
Authors: , ,
Keywords: maintenance, repair & replacement
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. The authors 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.

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