A marginal analysis for minimizing shortage in a multi-item inventory system with a constraint for a single period
Park, Hwa Jin.
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This thesis addresses the problem of determining the optimal number of spares in a multi-item inventory system with a procurement budget constraint for a specific period. In war time, expected shortages of spares is an extremely critical factor in the the ROK Army's ability to fight. For the initial stage of war, the ROK Army combat units have to reserve the loading package. The purpose of this thesis is to select the loading package to minimize the expected number of shortages over all the items included subject to a budget constraint. A Marginal Analysis and Dynamic Programming (DP) are considered. Though Marginal Analysis is not strictly optimal it is very nearly so and much more efficient than DP. Consequently, the Marginal Analysis Approach appears preferable in the military area because it is very simple, flexible, and easy to program. Keywords: Republic of Korea, Military logistics, Inventory analysis, Inventory models. (kr)
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