| Author : | Daniel Y. Mo; Mitchell M. Tseng; Raymond K. Cheung |
|---|---|
| Category : | Journal Article |
| Department : | Supply Chain and Information Management |
| Year / Month : | 2014 |
| Source : | International Journal of Systems Science, 45(6), 1296-1305. |
Abstract
- The objective of a spare part support operation is to fulfill the part request order with different service contracts in the agreed response time. With this objective to achieve different service targets for multiple service contracts and the considerations of inventory investment, it is not only important to determine the inventory policy but also to design the structure of inventory pools and the order fulfillment strategies. In this research, we focused on two types of inventory pools: Multiple Inventory Pool (MIP) and Consolidated Inventory Pool (CIP). The idea of MIP is to maintain separated inventory pools based on the types of service contract, while CIP solely maintains a single inventory pool regardless of service contract. Our research aims to design the inventory pool analytically and propose reserve strategies to manage the order fulfillment risks in CIP. Mathematical models and simulation experiments would be applied for the analysis and evaluation.
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