Optimal age-replacement time with minimal repair based on cumulative repair cost limit and random lead time.
Yu-Hung ChienShey-Huei SheuChin-Chih ChangPublished in: Int. J. Syst. Sci. (2009)
Keyphrases
- lead time
- holding cost
- base stock levels
- cost reduction
- setup cost
- lot size
- multi echelon
- optimal base stock levels
- expected cost
- total cost
- base stock policy
- single item
- replenishment policy
- periodic review
- single product
- supply chain
- service level
- average cost
- approximation methods
- planning horizon
- order quantity
- failure rate
- optimal policy
- inventory systems
- state dependent
- stochastic lead times
- lost sales
- long run
- infinite horizon
- base stock policies
- customer demand
- independent and identically distributed
- asymptotically optimal
- optimal production
- scheduling problem
- lot sizing
- inventory costs
- joint replenishment
- assembly systems
- cost minimization
- stochastic demand
- production cost
- replacement policy
- inventory management
- inventory policy
- arrival rate
- expected profit
- inventory level
- inventory control
- fixed cost
- single machine
- markov decision processes
- utility function
- np hard