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Optimal inventory policy for a balanced system subject to hard failure

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  • Wang, Jingjing
  • Wang, Zongxi
  • Zheng, Rui

Abstract

This paper explores a novel spare parts provisioning and replacement policy for a balanced system that differs from orthodox systems in failure mechanisms. Once a unit fails, then the corresponding unit in symmetric position must be shut down to maintain a balance. The balanced system fails if and only if no pair of units are working. To avoid system unbalance, an optimal (s,S) inventory policy is adopted for a balanced system with n independently and identically distributed units. Once the stock level decreases to the order point s, an order action is incurred and the order delivery time follows a general distribution. The system average O&M cost per unit time is minimized by optimizing the order point s under the semi-Markov decision process. Finally, an illustrative example for a balanced system with six identical components is used to demonstrate the proposed inventory policy.

Suggested Citation

  • Wang, Jingjing & Wang, Zongxi & Zheng, Rui, 2021. "Optimal inventory policy for a balanced system subject to hard failure," Reliability Engineering and System Safety, Elsevier, vol. 216(C).
    • Handle: RePEc:eee:reensy:v:216:y:2021:i:c:s095183202100524x
    DOI: 10.1016/j.ress.2021.108015
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    References listed on IDEAS

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