A CONTINUOUS REVIEW MODEL FOR THE REPARABLE ITEM INVENTORY SYSTEM.
NAVAL POSTGRADUATE SCHOOL MONTEREY CA
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In general, a reparable inventory system deals with two classes of the same type of item. The first class consists of those items which have been procured from the manufacturer and have never been put to use. The second class consists of those items which have been used, have failed, have been repaired, and are ready to be used again. In addition to the two classes of items, the system also contains two distinct inventories. These are the ready-for-issue and the non-ready-for-issue inventories. The ready-for-issue inventory contains both classes of items in their usable state, and the non-ready-for-issue inventory contains only the latter in its failed but reparable state. This paper develops a quasi-probabilistic inventory model for the reparable inventory system based on the premise that the repair facility is the primary source of inventory, with procurements being made periodically only to supplement this primary source. Author
- Statistics and Probability