Inventory policies for joint remanufacturing and manufacturing have recently received much attention. Most efforts, though, were related to (optimal) policy structures and numerical optimization, rather than closed form expressions for calculating near optimal policy parameters. The focus of...

In the classical approach to determine how many spare parts to stock, the spare parts shortage costs or the minimum fill rate are a key factor. A difficulty with this approach lies in the estimation of these shortage costs or the determination of appropriate minimum fill rates. In an attempt to...

Demand for spare parts can sometimes be classified into critical and non-critical demand, depending on the criticality of the equipment in which it is installed. To effectively handle this situation in spare parts inventory control, we propose a stocking policy where some of the stock is...

Product returns are often characterized by a dual uncertainty on time and quantity. In the literature on inventory management with product returns, best forecasts have been associated with methods that use the most informationregarding product return history. In practice however, data is often...

Inventory policies for joint remanufacturing and manufacturing have recently received much attention. Most efforts, though, were related to (optimal) policy structures and numerical optimization, rather than closed form expressions for calculating near optimal policy parameters. The focus of...

The literature on stochastic models for inventory control with product returns commonly makes the following simplifying assumptions: demand and returns are each a homogeneous (compound) Poisson process, and the processes are independent of each other. In this paper we explore the validity of...

Purpose: The purpose of the research is to study the applicability of the (Q,R)-model in inventory management of the maintenance materials in investment intensive industry companies. The objective of the research is to answer the following research questions: 1. What is the applicability of...

Reserve stocks are needed in a wide spectrum of industries from strategic oil reserves to tactical (machine buffer) reserves in manufacturing. One important aspect under-looked in research is the effect of deterioration, where a reserve stock, held for a long time, may be depleted gradually due...

This paper is concerned with identifying an effective method for forecasting the lead time demand of slow-moving inventories. Particular emphasis is placed on prediction distributions instead of point predictions alone. It is also placed on methods which work with small samples as well as large...

This paper proposes a hierarchical multi-criteria classification method developed for inventory management purposes and applied in a case study of the spare parts business of a household appliance manufacturer. The classification method is built on the basis of SIX dimensions, resulting in 12...