On the optimal ordering policies in maintenance theory – survey and applications

On the optimal ordering policies in maintenance theory – survey and applications

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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: , ,
Keywords: inventory: order policies
Abstract:

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.

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