On stock selection at spare parts stores sections

J. W. Johnson

Naval Research Logistics Quarterly, 1962, vol. 9, issue 1, 49-59

Abstract: This study considers the items to be stocked and the quantities thereof at Spare Parts Stores Sections of the Royal Canadian Ordnance Corps. Aspects of the problem given particular attention are identification of the relevant operating costs, shortage implications, the interaction between the stocking and replenishment policies, and the sensitivity to forecasting errors. Mathematical and simulated sampling models from which decision rules were derived are described. Adoption of the recommended stocking and replenishment policies would be expected to yield a 24‐percent increase in availability and an annual reduction in operating costs of $300,000.

Date: 1962
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Persistent link: https://EconPapers.repec.org/RePEc:wly:navlog:v:9:y:1962:i:1:p:49-59

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