IDEAS home Printed from https://ideas.repec.org/a/inm/oropre/v10y1962i6p786-794.html
   My bibliography  Save this article

Safety Levels in Military Inventory Management

Author

Listed:
  • Franz L. Alt

    (National Bureau of Standards, Washington, D. C.)

Abstract

A suitable objective function is derived for inventory problems involving stocks of several commodities with interdependent optimal stock levels. To this end the effect of inventory levels on the activities served by the inventory is derived, and the expected utility of these activities is used as the objective function, to be maximized by choice of stock levels. In the case of several activities jointly served, where it may be difficult to choose a joint utility function for these activities, the proposal is made and argued to approximate this function by the sum of the marginal costs of the separate activities.

Suggested Citation

  • Franz L. Alt, 1962. "Safety Levels in Military Inventory Management," Operations Research, INFORMS, vol. 10(6), pages 786-794, December.
    • Handle: RePEc:inm:oropre:v:10:y:1962:i:6:p:786-794
    DOI: 10.1287/opre.10.6.786
    as

    Download full text from publisher

    File URL: http://dx.doi.org/10.1287/opre.10.6.786
    Download Restriction: no
    File URL: https://libkey.io/10.1287/opre.10.6.786?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jing-Sheng Song, 2002. "Order-Based Backorders and Their Implications in Multi-Item Inventory Systems," Management Science, INFORMS, vol. 48(4), pages 499-516, April.
    2. Rahimi-Ghahroodi, S. & Al Hanbali, A. & Vliegen, I.M.H. & Cohen, M.A., 2019. "Joint optimization of spare parts inventory and service engineers staffing with full backlogging," International Journal of Production Economics, Elsevier, vol. 212(C), pages 39-50.
    3. Mauricio Varas & Franco Basso & Armin Lüer-Villagra & Alejandro Mac Cawley & Sergio Maturana, 2019. "Managing premium wines using an $$(s - 1,s)$$ ( s - 1 , s ) inventory policy: a heuristic solution approach," Annals of Operations Research, Springer, vol. 280(1), pages 351-376, September.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:inm:oropre:v:10:y:1962:i:6:p:786-794. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Asher (email available below). General contact details of provider: https://edirc.repec.org/data/inforea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.