Optimum order time for a spare part inventory system modeled by a non-regenerative stochastic petri net

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2 Citations (Scopus)

Abstract

We determine the optimum time TOPT to order a spare part for a system before the part in operation has failed. TOPT is a function of the part's failure-time distribution, the lead (delivery) time of the part, its inventory cost, and the cost of downtime while waiting delivery. The probabilities of the system's up and down states are obtained from a non-regenerative stochastic Petri net. TOPT is found by minimizing £[cos£], the expected cost of inventory and downtime. Three cases are compared: 1) Exponential order and lead times, 2) Deterministic order time and exponential lead time, and 3) Deterministic order and lead times. In Case 1, it is shown analytically that, depending on the ratio of inventory to downtime costs, the optimum policy is one of three: order a spare part immediately at t = 0, wait until the part in operation fails, or order before failure at TOPT > 0. Numerical examples illustrate the three cases.

Original languageEnglish
Pages (from-to)818-826
Number of pages9
JournalIEICE Transactions on Fundamentals of Electronics, Communications and Computer Sciences
VolumeE83-A
Issue number5
Publication statusPublished - 2000 Jan 1

Keywords

  • Maintenance
  • Markov processes
  • Optimization
  • Petri nets
  • Reliability

ASJC Scopus subject areas

  • Signal Processing
  • Computer Graphics and Computer-Aided Design
  • Electrical and Electronic Engineering
  • Applied Mathematics

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