Note---Optimal Inventories Based on Job Completion Rate for Repairs Requiring Multiple Items

Stephen A. Smith, John C. Chambers and Eli Shlifer
Additional contact information
Stephen A. Smith: Xerox Research Center, Palo Alto, California
John C. Chambers: Ohio State University
Eli Shlifer: Israel Institute of Technology

Management Science, 1980, vol. 26, issue 8, 849-854

Abstract: A model is formulated for optimizing multi-item inventories for repair of field equipment based on holding costs and the probability of job completion without stockout. This results in a different type of objective function from those found in most inventory problems in that the contributions of different line items are not separable. It is shown, however, that the optimal policy has the same form as the one that results from standard marginal analysis solutions in which the objective function is separable.

Keywords: inventory/production; military/logistics; reliability/maintenance (search for similar items in EconPapers)
Date: 1980
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Citations: View citations in EconPapers (19)

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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:26:y:1980:i:8:p:849-854

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