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A Stochastic Model of a Repairable-Item Inventory System with Attrition and Random Lead Times

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  • F. Russell Richards

    (Naval Postgraduate School, Monterey, California)

Abstract

This paper examines an inventory model for a repairable-item inventory system with attrition. We allow for random demands and random lead times and, for a class of simple procurement policies, derive an exact expression for the stationary distribution of the on-hand inventory. Various measures of performance are determined, and an example is given. The model allows a variety of repair doctrines to be considered.

Suggested Citation

  • F. Russell Richards, 1976. "A Stochastic Model of a Repairable-Item Inventory System with Attrition and Random Lead Times," Operations Research, INFORMS, vol. 24(1), pages 118-130, February.
    • Handle: RePEc:inm:oropre:v:24:y:1976:i:1:p:118-130
    DOI: 10.1287/opre.24.1.118
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    Cited by:

    1. Hau L. Lee & Kamran Moinzadeh, 1987. "Operating characteristics of a two‐echelon inventory system for repairable and consumable items under batch ordering and shipment policy," Naval Research Logistics (NRL), John Wiley & Sons, vol. 34(3), pages 365-380, June.
    2. Ashayeri, J. & Heuts, R.M.J. & Jansen, A. & Szczerba, B., 1994. "Inventory management of repairable service parts for personal computers : A case study," Discussion Paper 1994-99, Tilburg University, Center for Economic Research.
    3. 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.
    4. Ashayeri, J. & Heuts, R.M.J. & Jansen, A. & Szczerba, B., 1994. "Inventory management of repairable service parts for personal computers : A case study," Other publications TiSEM 28578c62-2e4d-4345-929f-a, Tilburg University, School of Economics and Management.
    5. 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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