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An Ordering Policy for Repairable Stock Items

Author

Listed:
  • Stephen G. Allen

    (Stanford Research Institute, Menlo Park, California)

  • Donato A. D'Esopo

    (Stanford Research Institute, Menlo Park, California)

Abstract

When a stock item fails, it is assumed to be repairable with a known positive probability less than one. In this case stock must be replenished on occasion with new supplies. An ordering policy of the familiar reorder point-order quantity type is considered, and expressions developed for expected shortages, inventory, and number of orders per unit of time. Because shortages within a replenishment cycle can decrease because of returns from repair, the derivation of expected shortages is of particular interest.

Suggested Citation

  • Stephen G. Allen & Donato A. D'Esopo, 1968. "An Ordering Policy for Repairable Stock Items," Operations Research, INFORMS, vol. 16(3), pages 669-674, June.
    • Handle: RePEc:inm:oropre:v:16:y:1968:i:3:p:669-674
    DOI: 10.1287/opre.16.3.669
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    Cited by:

    1. Gu, Jingyao & Zhang, Guoqing & Li, Kevin W., 2015. "Efficient aircraft spare parts inventory management under demand uncertainty," Journal of Air Transport Management, Elsevier, vol. 42(C), pages 101-109.
    2. Chi Chiang & Genaro J. Gutierrez, 1998. "Optimal control policies for a periodic review inventory system with emergency orders," Naval Research Logistics (NRL), John Wiley & Sons, vol. 45(2), pages 187-204, March.
    3. Svoboda, Josef & Minner, Stefan & Yao, Man, 2021. "Typology and literature review on multiple supplier inventory control models," European Journal of Operational Research, Elsevier, vol. 293(1), pages 1-23.
    4. Xian Zhao & Jing Zhang & Xiaoyue Wang, 2019. "Joint optimization of components redundancy, spares inventory and repairmen allocation for a standby series system," Journal of Risk and Reliability, , vol. 233(4), pages 623-638, August.
    5. John Khawam & Warren H. Hausman & Dinah W. Cheng, 2007. "Warranty Inventory Optimization for Hitachi Global Storage Technologies, Inc," Interfaces, INFORMS, vol. 37(5), pages 455-471, October.
    6. Guide, V. Daniel R. & Srivastava, Rajesh, 1997. "Repairable inventory theory: Models and applications," European Journal of Operational Research, Elsevier, vol. 102(1), pages 1-20, October.

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