Analysis of inventory models with budget constraint.

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Author
Kang, Sung Jin
Date
1983-09Advisor
Richards, F.R.
Second Reader
Howard, Gilbert T.
Metadata
Show full item recordAbstract
This thesis addresses the problem of determining the
optimal number of spares for a multi-item inventory system
with a procurement budget constraint. Various inventory
models are considered with objective functions like time-weighted
units short, units short, essentiality -weigh ted
units short and pseudo-availability. Solution algorithms
are derived using the generalized Lagrange multiplier
approach and a marginal analysis approach.
Sample data and output results are provided and comparisons
of the alternative models are given. Finally, a discussion
and example is given of the use of the models as
a means of estimating the budget required to attain a specified
level of performance.
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