Optimum Lot Sizes for Parts Used in Aircraft Production

John C. Chambers, Angus F. Bond and James H. Leake
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John C. Chambers: Case Institute of Technology, Cleveland, Ohio
Angus F. Bond: Case Institute of Technology, Cleveland, Ohio
James H. Leake: North American Aviation, Inc., Columbus, Ohio

Operations Research, 1958, vol. 6, issue 3, 385-398

Abstract: In the treatment of most inventory problems, obsolescence is either ignored or a constant factor is included in the inventorycarrying cost to account for obsolescence. However, the high obsolescence rate of detailed parts in the aircraft industry necessitates a more precise consideration of obsolescence. A method is developed for evaluating and including obsolescence costs in an inventory model. Other important and unusual factors in this inventory situation are (a) a demand rate that increases irregularly until the maximum rate is reached and (b) splitting of lots in the shop.

Date: 1958
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Persistent link: https://EconPapers.repec.org/RePEc:inm:oropre:v:6:y:1958:i:3:p:385-398

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