A multi-period repair parts inventory model for a Naval air rework facility
Asselin, Andre S.
McMasters, Alan W.
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A Ready Supply Store (RSS) containing repair parts which are anticipated to be used during the production process has been established to support the Naval Air Rework Facility O' C) (NARF). While this supporting inventory has previously been constructed using historical demand data, a single-period model and a two-period model have been proposed which compute stock levels based on quarterly production schedules. This thesis extends the use of the projected production information in calculating RSS inventory levels from two periods to multiple periods. The disadvantage of the single-period model is that it ignores information about future schedules. The multi-period model uses the information on future schedules to behave more optimally. The multi-period model shows significant differences in inventory levels over the single-period model as a result of the added information. The multi-period model is also easily programmed on a computer and is preferred over the single-period model.
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