Optimum allocation of a spares budget

M. Blitz and Wnltham

Naval Research Logistics Quarterly, 1963, vol. 10, issue 1, 175-191

Abstract: An algorithm is derived for allocating finite resources in discrete amounts to a number of activities subject to a set of nonlinear constraints. The algorithm differs from those previously described in that the amount of the resource consumed for an additional unit of any one activity need not be constant. The algorithm is then applied to the problem of allocating a spares budget when repair of failed subsystems is allowed and the cost of unit subsystems is a function of the number to be spared. Two models are presented: one with an unrestricted repair facility, exponential failure distributions, and general repair distributions; and another with more limited repair and exponential failure and repair distributions.

Date: 1963
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https://doi.org/10.1002/nav.3800100114

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Persistent link: https://EconPapers.repec.org/RePEc:wly:navlog:v:10:y:1963:i:1:p:175-191

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