TY - JOUR
T1 - Emergency Supply Alternatives for a Storage Facility of a Repairable Multi-Component System
AU - Barron, Yonit
AU - Benshimol, Chananel
N1 - Publisher Copyright:
© 2024 by the authors.
PY - 2024/9
Y1 - 2024/9
N2 - This paper studies a continuous-review stochastic replenishment model for a multi-component system with regular and emergency orders. The system consists of N parallel and independent components, each of which has a finite life span. In addition, there is a warehouse with a limited stock of new components. Each broken component is replaced by a new component from the stock. When no component is available, an emergency supply is ordered. The stock is managed according to an (Formula presented.) policy, which is a combination of an (Formula presented.) policy for the regular order and a (Formula presented.) policy for the emergency order. The regular order is delivered after an exponentially distributed lead time, whereas the emergency order is delivered immediately. We study three sub-policies for emergency orders, which differ from each other in size and in relation to the regular order. Applying the results from queueing theory and phase-type properties, we derive the optimal thresholds for each sub-policy and then compare the economic benefit of each one.
AB - This paper studies a continuous-review stochastic replenishment model for a multi-component system with regular and emergency orders. The system consists of N parallel and independent components, each of which has a finite life span. In addition, there is a warehouse with a limited stock of new components. Each broken component is replaced by a new component from the stock. When no component is available, an emergency supply is ordered. The stock is managed according to an (Formula presented.) policy, which is a combination of an (Formula presented.) policy for the regular order and a (Formula presented.) policy for the emergency order. The regular order is delivered after an exponentially distributed lead time, whereas the emergency order is delivered immediately. We study three sub-policies for emergency orders, which differ from each other in size and in relation to the regular order. Applying the results from queueing theory and phase-type properties, we derive the optimal thresholds for each sub-policy and then compare the economic benefit of each one.
KW - (s,S) policy
KW - emergency supply
KW - inventory
KW - repairable system
UR - http://www.scopus.com/inward/record.url?scp=85203617379&partnerID=8YFLogxK
U2 - 10.3390/math12172730
DO - 10.3390/math12172730
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AN - SCOPUS:85203617379
SN - 2227-7390
VL - 12
JO - Mathematics
JF - Mathematics
IS - 17
M1 - 2730
ER -