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Note---Optimal Inventories Based on Job Completion Rate for Repairs Requiring Multiple Items

Author

Listed:
  • Stephen A. Smith

    (Xerox Research Center, Palo Alto, California)

  • John C. Chambers

    (Ohio State University)

  • Eli Shlifer

    (Israel Institute of Technology)

Abstract

A model is formulated for optimizing multi-item inventories for repair of field equipment based on holding costs and the probability of job completion without stockout. This results in a different type of objective function from those found in most inventory problems in that the contributions of different line items are not separable. It is shown, however, that the optimal policy has the same form as the one that results from standard marginal analysis solutions in which the objective function is separable.

Suggested Citation

  • Stephen A. Smith & John C. Chambers & Eli Shlifer, 1980. "Note---Optimal Inventories Based on Job Completion Rate for Repairs Requiring Multiple Items," Management Science, INFORMS, vol. 26(8), pages 849-854, August.
    • Handle: RePEc:inm:ormnsc:v:26:y:1980:i:8:p:849-854
    DOI: 10.1287/mnsc.26.8.849
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    Citations

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    Cited by:

    1. Narendra Agrawal & Morris A. Cohen, 2001. "Optimal material control in an assembly system with component commonality," Naval Research Logistics (NRL), John Wiley & Sons, vol. 48(5), pages 409-429, August.
    2. Michael F. Gorman & Sanjay Ahire, 2006. "A Major Appliance Manufacturer Rethinks Its Inventory Policies for Service Vehicles," Interfaces, INFORMS, vol. 36(5), pages 407-419, October.
    3. Heeremans, D. & Gelders, L. F., 1995. "Multiple period repair kit problem with a job completion criterion: A case study," European Journal of Operational Research, Elsevier, vol. 81(2), pages 239-248, March.
    4. Rippe, Christoph & Kiesmüller, Gudrun P., 2023. "The repair kit problem with imperfect advance demand information," European Journal of Operational Research, Elsevier, vol. 304(2), pages 558-576.
    5. K Liu & J-A Li & Y Wu & K K Lai, 2005. "Analysis of monitoring and limiting of commercial cheating: a newsvendor model," Journal of the Operational Research Society, Palgrave Macmillan;The OR Society, vol. 56(7), pages 844-854, July.
    6. Kathryn E. Caggiano & Peter L. Jackson & John A. Muckstadt & James A. Rappold, 2007. "Optimizing Service Parts Inventory in a Multiechelon, Multi-Item Supply Chain with Time-Based Customer Service-Level Agreements," Operations Research, INFORMS, vol. 55(2), pages 303-318, April.
    7. Albrecht, Martin, 2014. "Determining near optimal base-stock levels in two-stage general inventory systems," European Journal of Operational Research, Elsevier, vol. 232(2), pages 342-349.
    8. Shuang Chen & Joseph Geunes, 2013. "Optimal allocation of stock levels and stochastic customer demands to a capacitated resource," Annals of Operations Research, Springer, vol. 203(1), pages 33-54, March.
    9. Michael F. Gorman, 2023. "Case Article—Swirltubs After-Market Product Inventory and Service Case," INFORMS Transactions on Education, INFORMS, vol. 23(3), pages 149-151, May.
    10. Renato de Matta & Vernon Ning Hsu & Timothy J. Lowe, 1999. "Capacitated selection problem," Naval Research Logistics (NRL), John Wiley & Sons, vol. 46(1), pages 19-37, February.
    11. Prak, Dennis & Saccani, Nicola & Syntetos, Aris & Teunter, Ruud & Visintin, Filippo, 2017. "The Repair Kit Problem with positive replenishment lead times and fixed ordering costs," European Journal of Operational Research, Elsevier, vol. 261(3), pages 893-902.
    12. Syam, Siddhartha S. & Bhatnagar, Amit, 2015. "A decision support model for determining the level of product variety with marketing and supply chain considerations," Journal of Retailing and Consumer Services, Elsevier, vol. 25(C), pages 12-21.
    13. Fernando Bernstein & Gregory A. DeCroix & Yulan Wang, 2007. "Incentives and Commonality in a Decentralized Multiproduct Assembly System," Operations Research, INFORMS, vol. 55(4), pages 630-646, August.
    14. Bijvank, Marco & Koole, Ger & Vis, Iris F.A., 2010. "Optimising a general repair kit problem with a service constraint," European Journal of Operational Research, Elsevier, vol. 204(1), pages 76-85, July.
    15. Teunter, Ruud H. & Klein Haneveld, Willem K., 2002. "Inventory control of service parts in the final phase: A central depot and repair kits," European Journal of Operational Research, Elsevier, vol. 138(1), pages 76-86, April.
    16. Christoph Rippe & Gudrun P. Kiesmüller, 2023. "The added value of advance demand information for the planning of a repair kit," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 31(1), pages 311-335, March.
    17. Rachel Q. Zhang, 1999. "Expected time delay in multi‐item inventory systems with correlated demands," Naval Research Logistics (NRL), John Wiley & Sons, vol. 46(6), pages 671-688, September.
    18. Fernando Bernstein & Gregory A. DeCroix & Yulan Wang, 2011. "The Impact of Demand Aggregation Through Delayed Component Allocation in an Assemble-to-Order System," Management Science, INFORMS, vol. 57(6), pages 1154-1171, June.
    19. Teunter, Ruud H., 2006. "The multiple-job repair kit problem," European Journal of Operational Research, Elsevier, vol. 175(2), pages 1103-1116, December.

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