A spare parts stocking policy based on equipment criticality

Article Abstract:

A mathematical model for a spare parts stocking policy, in which part of the stock is reserved for critical demand, has been developed. A lot-for-lot policy was used in controlling the inventory while the lead time was assumed to be deterministic and nonnegative. The service level for non-critical demand is not affected by incoming orders but by the average length of a stockout. Satisfactory results were obtained when approximations of the critical and non-critical demand were determined through simulations.

Logistics, Spare parts

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On queueing models for some multi-location problems

Article Abstract:

The feasibility of applying queueing network theory to model and solve multi-location inventory problems was examined. Based on the equivalence between queueing models of network traffic and single-location inventory models with continuous, stochastic demand, queueing models were used to find optimal solutions to the single-location continuous-review inventory problem and the multiple-location inventory problems with Poisson demand.

Evaluation, Industrial locations, Industrial location, Queuing theory

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Comparison of several heuristics using an analytic procedure for replenishment with non-linear increasing demand

Article Abstract:

An analytic procedure is derived for replenishment under non-linear demand. The procedure analyzes replenishment under non-linear demand by simply changing parameter vectors in heuristics for replenishment under linearly increasing demand. It is shown that cost penalties result from the failure of replenishment intervals to coincide with time horizons. The procedure also performs better compared to other heuristics.

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