Generalized spare ordering policies with random lead time
type: Item
instance of: scholarly article
title: Generalized spare ordering policies with random lead time
zbMATH Open document ID: 0581.90031
DOI: 10.1016/0377-2217(86)90298-5
author: B. George
published in: European Journal of Operational Research
publication date: 1986-01-01T00:00:00Z
review text: Generalized ordering policies for a spare unit with general life time and lead time distributions are considered. Introducing the costs of ordering, shortage, and holding, we derive the expected cost rate and the cost effectiveness. We show that the generalized ordering policy minimizing the cost rate or maximizing the cost effectiveness is either one of the two typical ordering policies: (1) the original unit is replaced as soon as the ordered spare is delivered, or (2) the delivered spare is put into inventory until the original unit fails. Some properties regarding the optimum ordering policy and the optimum ordering time are also presented.
Mathematics Subject Classification ID: 90B25
Mathematics Subject Classification ID: 62N05
zbMATH DE Number: 3930694
zbMATH Keywords: cost effectiveness
zbMATH Keywords: Generalized ordering policies
zbMATH Keywords: spare unit with general life time
zbMATH Keywords: lead time distributions
zbMATH Keywords: optimum ordering policy
zbMATH Keywords: optimum ordering time
MaRDI profile type: Publication
full work available at URL: 0377-2217(86)90298-5
OpenAlex ID: W2070191697
cites work: Q5343971
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description: scientific article; zbMATH DE number 3930694