A generalized discrete-time order replacement model |
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| Authors: | Dohi T; Iwamoto K; Kaio N; Osaki S |
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| Institution: |
1 Department of Information Engineering, Hiroshima University, 4-1 Kagamiyama 1 Chome, Higashi-Hiroshima 739-8527, Japan 2 Department of Economic Informatics, Hiroshima Shudo University, 1-1-1 Ozukahigashi, Asaminamiku, Hiroshima 731-3195, Japan 3 Department of Information and Telecommunication Engineering, Nanzan University, 27 Seirei-Cho, Seto 489-0863, Japan
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| Abstract: | In this article, we consider a discrete-time order replacementproblem. More precisely, we treat a generalized model with morecomplex cost structure than Kaio & Osaki (1979, IEEE Trans.Reliab., R-29, 405–406) and with two decision variables:allowable inventory time and ordering time. Based on the discreteprobabilistic argument, we derive the optimal ordering policyto deliver a spare unit preventively by a regular order, soas to minimize the expected cost per unit time in the steadystate. Numerical examples are devoted to carrying out the sensitivityanalysis of model parameters on the optimal ordering policyand its associated expected cost value. |
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| Keywords: | replacement ordering policy discrete-time cost model optimization steady-state analysis |
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