Optimal Cooperative Ordering Policy for Spare Parts Inventory with Two Supply Modes

doi:10.3969/j.issn.1000-1093.2015.02.022

Abstract

Abstract: In order to satisfy the demands of inventory system on the spare parts, an emergency order is implemented to cover the shortage of regular order and reduce equipment downtime in case of stock-outs. A cooperative-ordering model, which takes compound fill rate as the constraints and expected cost per unit time as objective function, is established to solve the joint optimization problem for multi-location order policy in the two supply modes. A heuristic algorithm is developed to optimize the proposed model on basis of Lagrangian factor and policy-iteration algorithm. The Monte-Carlo simulation model is presented to prescribe the demand and order behaviors. The analytical model is compared with genetic-algorithm-optimized simulation model in a set of designed experiments. The results show the analytical model derives near-optimal solution and operates with high efficiency.

Key words: operations research, spare parts, cooperative order, inventory, optimization

CLC Number:

TP391

WANG Shen， LI Qing-min， LI Hua， RUAN Min-zhi. Optimal Cooperative Ordering Policy for Spare Parts Inventory with Two Supply Modes[J]. Acta Armamentarii, 2015, 36(2): 337-344.

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