A Heuristic Model for Spare Parts Stocking Based on Markov Chains

A Heuristic Model for Spare Parts Stocking Based on Markov Chains

Spare parts management has gained significant attention in recent years due to the considerable costs associated with backorders or excess inventory. This article addresses the challenge of determining the optimal number of spare parts to stock, assuming that the parts can be repaired. When an item...

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Bibliographic Details
Main Authors: Ernesto Armando Pacheco-Velázquez, Manuel Robles-Cárdenas, Saúl Juárez Ordóñez, Abelardo Ernesto Damy Solís, Leopoldo Eduardo Cárdenas-Barrón
Format: Article
Language:English
Published: MDPI AG 2023-08-01
Series:Mathematics
Subjects:
inventory
spare parts
Markov chains
decision analysis
optimization
Online Access:https://www.mdpi.com/2227-7390/11/16/3550

Internet

https://www.mdpi.com/2227-7390/11/16/3550

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