Kabir, A. B. M. Zohrul; Al-Olayan, Ahmed S. A stocking policy for spare part provisioning under age based preventive replacement. (English) Zbl 0914.90100 Eur. J. Oper. Res. 90, No. 1, 171-181 (1996). Summary: A new policy, called stocking policy for ease of reference, has been advanced for the joint optimization of age replacement and spare provisioning. It combines an age replacement policy with a continuous review \((s, S)\) type inventory policy, where \(s\) is the stock reorder level and \(S\) is the maximum stock level. The policy is generally applicable to any operating situation having either a single item or a number of identical items. A simulation model has been developed to determine the optimal values of the decision variables by minimizing the total cost of replacement and inventory. The behaviour of the stocking policy has been studied for a number of case problems specifically constructed by 5-factor second-order rotatory design and the effects of different cost elements and item failure characteristics have been highlighted. For all case problems, optimal \((s, S)\) policies to-support the Barlow-Proschan age policy have also been determined. Simulation results clearly indicate that the optimal stocking policy is, in general, more cost-effective than the Barlow-Proschan policy. Cited in 14 Documents MSC: 90B05 Inventory, storage, reservoirs Keywords:stocking policy; age replacement; spare provisioning; continuous review \((s, S)\) type inventory policy; simulation PDFBibTeX XMLCite \textit{A. B. M. Z. Kabir} and \textit{A. S. Al-Olayan}, Eur. J. Oper. Res. 90, No. 1, 171--181 (1996; Zbl 0914.90100) Full Text: DOI References: [1] Acharya, D.; Nagabhushanam, G.; Alam, S. S., Jointly optimal block-replacement and spare provisioning policy, IEEE Transactions on Reliability, 35, 447-451 (1986) · Zbl 0613.90031 [2] Barlow, R. E.; Proschan, F., Mathematical Theory of Reliability (1965), Wiley: Wiley New York · Zbl 0132.39302 [3] Falkner, C. H., Optimal spares for stochastically failing equipment, Naval Research Logistics Quarterly, 16, 287-295 (1969) [4] Jardine, A. K.S., Maintenance, Replacement and Reliability (1973), Pitman: Pitman London · Zbl 0567.90044 [5] Kabir, A. B.M. Z., A new graphic presentation of cost optimal age replacement policies, Reliability Engineering, 17, 59-71 (1987) [6] Kaio, N.; Osaki, S., Optimum ordering policies with lead time for an operating unit in preventive maintenance, IEEE Transactions on Reliability, 27, 270-271 (1978) · Zbl 0388.90028 [7] Kaio, N.; Osaki, S., Optimum planned maintenance policies with lead time, IEEE Transactions on Reliability, 30, 79 (1981) [8] O’Connor, P. D.T., Practical Reliability Engineering (1981), Heyden: Heyden London [9] Osaki, S., An ordering policy with lead time, International Journal of System Science, 8, 1091-1095 (1977) · Zbl 0401.90059 [10] Osaki, S.; Nakagawa, T., Two models for ordering policies, (Notes in Decision Theory. No. 34 (1977), University of Manchester: University of Manchester Manchester) · Zbl 0402.90047 [11] Osaki, S.; Kaio, N.; Yamada, S., A summary of optimal ordering policies, IEEE Transactions on Reliability, 30, 272-277 (1981) · Zbl 0461.90034 [12] Park, Y. T.; Park, K. S., Generalized spare ordering policies with random lead time, European Journal of Operational Research, 23, 320-330 (1986) · Zbl 0581.90031 [13] Sherif, Y. S.; Smith, M. L., Optimal maintenance models for systems subject to failure — A review, Naval Research Logistics Quarterly, 28, 47-74 (1978) · Zbl 0453.90034 [14] Thomas, L. C.; Osaki, S., A note on ordering policy, IEEE Transactions on Reliability, 27, 380-381 (1978) · Zbl 0393.90031 [15] Thomas, L. C.; Osaki, S., An optimal ordering policy for a spare unit with lead time, European Journal of Operational Research, 2, 409-419 (1978) · Zbl 0393.90030 This reference list is based on information provided by the publisher or from digital mathematics libraries. Its items are heuristically matched to zbMATH identifiers and may contain data conversion errors. In some cases that data have been complemented/enhanced by data from zbMATH Open. This attempts to reflect the references listed in the original paper as accurately as possible without claiming completeness or a perfect matching.