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.