Stock level determination and sensitivity analysis in repair/rework operations

Stock level determination and sensitivity analysis in repair/rework operations

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Article ID: iaor1999577
Country: United Kingdom
Volume: 18
Issue: 6
Start Page Number: 612
End Page Number: 630
Publication Date: Jan 1998
Journal: International Journal of Operations & Production Management
Authors: , ,
Keywords: inventory
Abstract:

In this article, we present the results of a study examining the bahavior of various inventory stocking methodologies in repair/rework operations. A major area of focus is on the sensitivity of key model parameters to stochastic replenishment lead times, product demand, and overhaul factors. A case study in a US Army depot provides validation for the effort. Simulation results indicate the current depot stocking methodologies are adequate in ideal conditions, but are less effective in more challenging and realistic scenarios. Results also indicate that some commonly used inventory models are quite robust to stochastic operating parameters in the unique/rework environment.

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