An Ordering Policy for Repairable Stock Items

Stephen G. Allen and Donato A. D'Esopo
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Stephen G. Allen: Stanford Research Institute, Menlo Park, California
Donato A. D'Esopo: Stanford Research Institute, Menlo Park, California

Operations Research, 1968, vol. 16, issue 3, 669-674

Abstract: When a stock item fails, it is assumed to be repairable with a known positive probability less than one. In this case stock must be replenished on occasion with new supplies. An ordering policy of the familiar reorder point-order quantity type is considered, and expressions developed for expected shortages, inventory, and number of orders per unit of time. Because shortages within a replenishment cycle can decrease because of returns from repair, the derivation of expected shortages is of particular interest.

Date: 1968
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