Repairable inventory theory

Models and applications

V. Daniel R. Guide, Jr., Rajesh Srivastava

Research output: Contribution to journalArticle

107 Citations (Scopus)

Abstract

Repairable inventory theory involves designing inventory systems for items which are repaired and returned to use rather than discarded. Such systems are composed of items which are typically less expensive to repair than to replace, and are considerably more complicated than traditional consumables inventory systems. The typical problem is concerned with the optimal stocking of the repairable parts and the location of these stocks, given that there may be multiple locations. An added dimension to the problem is the determination of the size and location(s) of the repair capacity for these parts. Further, different performance measures may be used, such as cost, backorders, and availability. There are many complicating factors in the design of repairable inventory systems, for example, not all failed units can be repaired and put back into service, some will be condemned and have to be replaced by new procurements. Various solution approaches have been developed to solve the problem, few have been implemented in practice, and no single model has addressed all or most of the complicating factors. Recent trends in the repairable inventory environment, environmental trends and regulations, and trends in product design are calling some of the assumptions of earlier models into question. In this paper we discuss the existing body of literature on repairable inventory, examine the various models proposed and the major assumptions made in those models, and classify them according to their solution methodology, single versus multi-echelon, and exact versus approximate solutions. It is intended to aid practitioners and researchers in identifying the sources for existing methods and the suitability of those to their application, as well as identify areas for additional research.

Original languageEnglish (US)
Pages (from-to)1-20
Number of pages20
JournalEuropean Journal of Operational Research
Volume102
Issue number1
DOIs
StatePublished - Oct 1 1997

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Inventory Theory
Inventory Systems
Repair
Multi-echelon
Backorder
Repairable System
Product Design
Product design
Model
Performance Measures
Approximate Solution
Availability
Classify
Unit
Inventory theory
Methodology
Costs
Trends
Inventory systems

All Science Journal Classification (ASJC) codes

  • Computer Science(all)
  • Modeling and Simulation
  • Management Science and Operations Research
  • Information Systems and Management

Cite this

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abstract = "Repairable inventory theory involves designing inventory systems for items which are repaired and returned to use rather than discarded. Such systems are composed of items which are typically less expensive to repair than to replace, and are considerably more complicated than traditional consumables inventory systems. The typical problem is concerned with the optimal stocking of the repairable parts and the location of these stocks, given that there may be multiple locations. An added dimension to the problem is the determination of the size and location(s) of the repair capacity for these parts. Further, different performance measures may be used, such as cost, backorders, and availability. There are many complicating factors in the design of repairable inventory systems, for example, not all failed units can be repaired and put back into service, some will be condemned and have to be replaced by new procurements. Various solution approaches have been developed to solve the problem, few have been implemented in practice, and no single model has addressed all or most of the complicating factors. Recent trends in the repairable inventory environment, environmental trends and regulations, and trends in product design are calling some of the assumptions of earlier models into question. In this paper we discuss the existing body of literature on repairable inventory, examine the various models proposed and the major assumptions made in those models, and classify them according to their solution methodology, single versus multi-echelon, and exact versus approximate solutions. It is intended to aid practitioners and researchers in identifying the sources for existing methods and the suitability of those to their application, as well as identify areas for additional research.",
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Repairable inventory theory : Models and applications. / Guide, Jr., V. Daniel R.; Srivastava, Rajesh.

In: European Journal of Operational Research, Vol. 102, No. 1, 01.10.1997, p. 1-20.

Research output: Contribution to journalArticle

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