| Article ID: | iaor200072 |
| Country: | United States |
| Volume: | 14 |
| Issue: | 4 |
| Start Page Number: | 309 |
| End Page Number: | 321 |
| Publication Date: | Dec 1998 |
| Journal: | Applied Stochastic Models and Data Analysis |
| Authors: | Kaio N., Dohi T., Osaki S. |
| Keywords: | inventory: order policies |
In this paper, we consider a typical but somewhat generalized order-replacement model arising in the spare part inventory management. The optimal ordering policies minimizing the long-run average cost are analytically derived. We review the mathematical contexts of the order-replacement problems and refer to their applications. A comprehensive bibliography in this research area is provided.