Joint inventory/replacement policies for parallel machines

Joint inventory/replacement policies for parallel machines

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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: , ,
Keywords: inventory
Abstract:

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.

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