A Stochastic Model of a Repairable-Item Inventory System with Attrition and Random Lead Times

F. Russell Richards
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F. Russell Richards: Naval Postgraduate School, Monterey, California

Operations Research, 1976, vol. 24, issue 1, 118-130

Abstract: This paper examines an inventory model for a repairable-item inventory system with attrition. We allow for random demands and random lead times and, for a class of simple procurement policies, derive an exact expression for the stationary distribution of the on-hand inventory. Various measures of performance are determined, and an example is given. The model allows a variety of repair doctrines to be considered.

Date: 1976
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Persistent link: https://EconPapers.repec.org/RePEc:inm:oropre:v:24:y:1976:i:1:p:118-130

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