Simulation model for closed loop repairable parts inventory system with service level performance measures

Rohit Kapoor and Bhavin J. Shah

International Journal of Services and Operations Management, 2016, vol. 23, issue 1, 18-42

Abstract: In this paper, an attempt is made to understand verification and validation methodology in the contexts which are driven by discrete-event simulations. Specifically, a problem context of closed-loop repairable parts inventory system of three echelons is considered. Proposed model is based on real-life situation faced by a large public sector transportation company dealing with repairable parts like tyres. In the simulation related literature, a general mechanism is given to perform verification and validation. However, there is a visible lack of specific context-based verification and validation guidelines in a complex simulation scenario. This paper explores the difficulties and nuisances to achieve a well-designed verification and validation method. The paper focuses on the specific industry and through illustrative example shows how verification and validation is achieved in a real-life problem context.

Keywords: repairable parts; inventory modelling; service level; fill rate; discrete-event simulation; performance measures; verification; validation; closed-loop systems; public transport; tyres. (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijsoma:v:23:y:2016:i:1:p:18-42

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