Article ID: | iaor199993 |
Country: | United States |
Volume: | 29 |
Issue: | 6 |
Start Page Number: | 441 |
End Page Number: | 449 |
Publication Date: | Jun 1997 |
Journal: | IIE Transactions |
Authors: | Ritchken Peter, Gilbert Stephen M., Aka Mian |
Keywords: | inventory |
In many manufacturing settings there is a significant cost associated with lost capacity due to machine failures. When this is combined with long lead times on the procurement of spare parts, it is often necessary to maintain inventories of critical machine components. Thus, the maintenance policy for the machines is inherently coupled to the inventory policy for spare parts. In this paper we identify and investigate the relationship between these two policies.