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Research Article Open Access
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.
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