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http://dx.doi.org/10.7469/JKSQM.2012.40.1.088

Joint Optimization of Age Replacement and Spare Provisioning Policy  

Lim, Sung-Uk (Daejin University)
Park, Young-Taek (Sungkyunkwan University)
Publication Information
Journal of Korean Society for Quality Management / v.40, no.1, 2012 , pp. 88-91 More about this Journal
Abstract
Joint optimization of preventive age replacement and inventory policy is considered in this paper. There are three decision variables in the problem: (i) preventive replacement age of the operating unit, (ii) order quantity per order and (iii) reorder point for spare replenishment. Preventive replacement age and order quantity are jointly determined so as to minimize the expected cost rate, and then the reorder point for meeting a desired service level is found. A numerical example is included to explain the joint optimization model.
Keywords
Age Replacement; Maintenance; Spare; Inventory;
Citations & Related Records
Times Cited By KSCI : 1  (Citation Analysis)
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