A Renewal Theoretic Approach to the Estimation of Future Demand for Replacement Parts

Richard M. Soland
Additional contact information
Richard M. Soland: Research Analysis Corporation, McLean, Virginia

Operations Research, 1968, vol. 16, issue 1, 36-51

Abstract: This expository paper presents a renewal theoretic approach to the determination of the probability distribution of the demand for replacement parts in a specified future time interval. Ordinary, modified, and equilibrium renewal processes are discussed as models for physical processes in which parts are replaced as they fail. Some results from renewal theory are stated and then used to estimate the demand for replacement parts under a number of different conditions. Practical difficulties, and ways to circumvent them, are then discussed. The paper concludes with an illustrative example.

Date: 1968
References: Add references at CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://dx.doi.org/10.1287/opre.16.1.36 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:inm:oropre:v:16:y:1968:i:1:p:36-51

Access Statistics for this article

More articles in Operations Research from INFORMS Contact information at EDIRC.
Bibliographic data for series maintained by Chris Asher ().