Exact formulation of (R,S) and (s-1,1) inventory policies with poisson demand. Application to spare parts stock optimisation

2011 ◽  
pp. 2768-2773
Author(s):  
J Lonchampt
Keyword(s):  
Spare Parts ◽  
Exact Formulation ◽  
Inventory Policies ◽  
Poisson Demand

scholarly journals A TWO-ECHELON SPARE PARTS NETWORK WITH LATERAL AND EMERGENCY SHIPMENTS: A PRODUCT-FORM APPROXIMATION

2017 ◽  
Vol 32 (4) ◽  
pp. 536-555 ◽  
Author(s):  
Richard J. Boucherie ◽  
Geert-Jan van Houtum ◽  
Judith Timmer ◽  
Jan-Kees van Ommeren
Keyword(s):  
Steady State ◽  
Spare Parts ◽  
Inventory System ◽  
Product Form ◽  
Steady State Distribution ◽  
State Distribution ◽  
Poisson Demand ◽  
Lateral Transshipment ◽  
Repair Facility ◽  
Erlang Loss

We consider a single-item, two-echelon spare parts inventory model for repairable parts for capital goods with high downtime costs. The inventory system consists of multiple local warehouses, a central warehouse, and a central repair facility. When a part at a customer fails, if possible his request for a ready-for-use part is fulfilled by his local warehouse. Also, the failed part is sent to the central repair facility for repair. If the local warehouse is out of stock, then, via an emergency shipment, a ready-for-use part is sent from the central warehouse if it has a part in stock. Otherwise, it is sent via a lateral transshipment from another local warehouse, or via an emergency shipment from the external supplier. We assume Poisson demand processes, generally distributed leadtimes for replenishments, repairs, and emergency shipments, and a basestock policy for the inventory control.Our inventory system is too complex to solve for a steady-state distribution in closed form. We approximate it by a network of Erlang loss queues with hierarchical jump-over blocking. We show that this network has a product-form steady-state distribution. This enables an efficient heuristic for the optimization of basestock levels, resulting in good approximations of the optimal costs.

Joint Optimization of Transportation and Spare Parts Inventory Policies in a Reverse Logistics Network Using OptQuest

2008 ◽  
Author(s):  
Mehmet A. Ilgin ◽  
Surendra M. Gupta
Keyword(s):  
Reverse Logistics ◽  
Printed Circuit Boards ◽  
Discrete Event ◽  
Spare Parts ◽  
Simulation Software ◽  
Joint Optimization ◽  
Optimum Number ◽  
Inventory Policies ◽  
Logistics Network ◽  
Spare Parts Inventory

The aim of this study is the joint optimization of the transportation and spare parts inventory policies in a reverse logistics (RL) network designed for End of Life (EOL) television (TV) recyling. Besides recycling, Printed Circuit Boards (PCBs) recovered from EOL TVs are used to meet the spare PCB demand. In order to model this RL network with its disassembly, transportation and spare parts inventory related aspects, a discrete event simulation (DES) model has been developed in detail using Arena simulation software. Next, Arena OptQuest has been used to propose optimum number and size of trucks together with the optimum reorder (s) and order quantity (Q) levels for the spare PCBs based on the minimization of total cost which includes inventory holding, PCB recovery, new PCB acquisition, truck amortization and operating costs.

scholarly journals Evolutionary Optimization of Spare Parts Inventory Policies: a Life Cycle Costing Perspective

2019 ◽  
Vol 52 (13) ◽  
pp. 2243-2248
Author(s):  
Orlando Durán ◽  
Arturo Carrasco ◽  
Paulo Sérgio Afonso ◽  
Paulo Andrés Durán
Keyword(s):  
Life Cycle ◽  
Evolutionary Optimization ◽  
Spare Parts ◽  
Life Cycle Costing ◽  
Inventory Policies ◽  
Spare Parts Inventory

Pooling of repairable spare parts: A study on inventory policies

4OR ◽  
2005 ◽  
Vol 3 (3) ◽  
pp. 253-256
Author(s):  
Hartanto Wijaya Wong
Keyword(s):  
Spare Parts ◽  
Inventory Policies
Sign in / Sign up

Export Citation Format

Share Document