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http://dx.doi.org/10.14248/JKOSSE.2016.12.2.047

Review of Studies on V-METRIC Related Models  

Kim, Yoon Hwa (Dept. of Industrial & Systems Engineering, Changwon National University)
Lee, Sung Yong (Dept. of Industrial & Systems Engineering, Changwon National University)
Publication Information
Journal of the Korean Society of Systems Engineering / v.12, no.2, 2016 , pp. 47-57 More about this Journal
Abstract
As the inventory costs of repairable items in military logistics continue to increase, many studies for optimal inventory level of these items are being carried out in advanced countries, including the US, to reduce these costs. Research on inventory level optimization for repairable items aimed to achieve the availability goal of a system with a MIME(Multi Indenture Multi Echelon) repair policy structure first began with Sherbrooke's METRIC and developed into various types. This research is to analyze and compare recent V-METRIC related studies to search for another variation in this field. This paper mainly looks at how to determine optimum inventory level for each repairable item to achieve a specific availability target within a limited budget, and also how to minimize inventory cost while achieving its availability target by determining optimal inventory level of each repairable item.
Keywords
Optimum Inventory Level; Availability; Repairable Item; Inventory Cost; V-METRIC; Multi-Echelon; Multi-Indenture;
Citations & Related Records
Times Cited By KSCI : 1  (Citation Analysis)
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