Abstract
This paper deals with the analysis of uncertain parameters in the (S - 1, S) inventory control policy. In order to determine the number of spare parts under the policy, parameters in a probability model for the number of failures during a replenishment lead time should be interpreted first. In case of the negative binomial distributed failures, the presented interpretation facilitates the incorporation of experts' opinions into the estimation of uncertain parameters. Determination of parameters via their interpretation is useful for deciding a service level in the area of reliability-based inventory control.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
