alexa Abstract | Distribution of Inventory Level on a Repairable Parts System under Performance-Based Contract
ISSN: 2169-0316

Industrial Engineering & Management
Open Access

OMICS International organises 3000+ Global Conferenceseries Events every year across USA, Europe & Asia with support from 1000 more scientific Societies and Publishes 700+ Open Access Journals which contains over 50000 eminent personalities, reputed scientists as editorial board members.

Open Access Journals gaining more Readers and Citations

700 Journals and 15,000,000 Readers Each Journal is getting 25,000+ Readers

This Readership is 10 times more when compared to other Subscription Journals (Source: Google Analytics)

Research Article Open Access

Abstract

Mirzahosseinian develop a closed-loop inventory system consisting of a repair facility and a single warehouse, for a repairable parts system operating under a Performance-Based Logistics contract. They model the closed-loop inventory system as a multi-server queueing model (M/M/m queue) where component failures follow Poisson distribution and the repair times at the service facility are exponential. The model sets up the balance equations of the steady-state probability distribution of inventory level. This paper extends their model. A recursive method is utilized and an analytic steady-state probability distribution of inventory level is derived. It also demonstrates by numerical experiments that the analytic steady-state probability distribution is correct. We obtain the analytic system performances and the metrics, which contribute to system cost optimization.

To read the full article Peer-reviewed Article PDF image | Peer-reviewed Full Article image

Author(s): Liu Jiliang, Liu Mingwu, Feng Mengying and Zhang Xu

Keywords

Inventory, Performance, Steady-state probability distribution, Recursive method, Applied Statistics, Cognitive Systems Engineering, Commercialization of New Techniques, Design and Microfabrication, Dynamical System, Health care management, Industrial Crystallization, Logistics, Management Cybernetics, Manufacturing system, Materials Management, Nonlinear Dynamics, Operations Research, Process Engineering, Production and Operations Management, Reliability engineering, Stochastic control, Technologies Management

Share This Page

Additional Info

Loading
Loading Please wait..
 
 
 
 
Peer Reviewed Journals
 
Make the best use of Scientific Research and information from our 700 + peer reviewed, Open Access Journals
International Conferences 2017-18
 
Meet Inspiring Speakers and Experts at our 3000+ Global Annual Meetings

Contact Us

 
© 2008-2017 OMICS International - Open Access Publisher. Best viewed in Mozilla Firefox | Google Chrome | Above IE 7.0 version
adwords