ADAPTIVE RESOURCE ALLOCATION TO MAXIMIZE RUN-OUT TIMES

Alan Lee () and Ilze Ziedins ()
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Alan Lee: Department of Statistics, The University of Auckland, Auckland, New Zealand
Ilze Ziedins: Department of Statistics, The University of Auckland, Auckland, New Zealand

Asia-Pacific Journal of Operational Research (APJOR), 2012, vol. 29, issue 03, 1-11

Abstract: We introduce a method for maximizing the run-out time for a system where the number of components available to make repairs is finite, and some of the components may be substituted for one another. The objective is to maximize the time at which the earliest run-out of any component occurs. The approach proposed here is to find the minimum time horizon such that no feasible allocation exists for a related linear programming problem. An adaptive version of this algorithm is proposed as a heuristic for the stochastic problem.

Keywords: Resource allocation; run-out times; inventory (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1142/S0217595912400179

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