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Optimal ordering policies with two types of randomized lead times. (English) Zbl 0715.90040
Summary: We discuss the generalized ordering policy, in which when an ordered spare is delivered after a randomized lead time it is put into the inventory if an original unit is still operating and the original one is replaced/exchanged by the stocked spare when the original one fails/passes a prespecified time, whichever occurs first. We apply the expected total discounted cost as a criterion of optimality and obtain the optimal ordering policies minimizing this expected cost, taking into account several costs, an exponential-type discount rate and two types of randomized lead times. Finally, we present the relationships between the results of this paper and earlier contributions.

90B05 Inventory, storage, reservoirs
Full Text: DOI
[1] Barlow, R.E.; Proschan, F., Mathematical theory of reliability, (1965), Wiley New York · Zbl 0132.39302
[2] Kaio, N.; Osaki, S., Extended optimum ordering policies with discounting, Int. J. syst. sci., 11, 149-157, (1980) · Zbl 0426.90041
[3] Kaio, N.; Osaki, S., Optimum planned maintenance with discounting, Int. J. prod. res., 18, 515-523, (1980)
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