Modelling emergency lateral transshipments in inventory systems
Management Science
An optimal policy for a two depot inventory problem with stock transfer
Management Science
Simulation Modeling and Analysis
Simulation Modeling and Analysis
Stocking Decisions for Low-Usage Items in a Multilocation Inventory System
Management Science
Computers and Operations Research
Computers and Operations Research
International Journal of Computer Applications in Technology
Performance assessment for single echelon airport spare part management
Computers and Industrial Engineering
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The inventory system considered in this work is single echelon, N-location and continuous review in which complete pooling of stock is permitted among the locations. A model is developed for slow moving, expensive items that are common to two or more locations. The model developed focuses on parts that have a lumpy demand pattern; that is, the number of units demanded at each demand occasion is a random variable. The motivating case for this research has been a real-life situation presented by a large utility company having 29 power generating plants in five southeastern states. Data analysis from the company reveals that there are a substantial number of parts that have low usage, are expensive, and have a lumpy demand pattern. At present, each location operates independently and maintains enough stock to meet its own requirements. Transshipments take place between locations whenever there is an emergency requirement for a part, but no explicit consideration is given to this effect while deciding on the inventory control policies at different locations. A model, using analytical and simulation techniques, is developed for this situation. Limited experimentation, performed on a set of problems, shows an average savings of about 31% as a result of pooling.