Abstract
In this paper, we consider a float system that consists of a single workstation, a repair station of several parallel and identical servers, and an inventory buffer of several standby components serving the workstation. We determine the optimal capacity of inventory buffer ( F), the size of repair crew ( S), and the mean repair rate (μ) such that the total operations cost is minimized. In particular, by assuming exponential failure and repair, we model the system as a finite birth and death process (an M/M/S/F queue). We develop a generalized optimization algorithm to obtain the optimal combinations of all three variables.
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