Services requiring parts has become a $1.5 trillion business annually worldwide, creating a tremendous incentive to manage the logistics of these parts efficiently by making planning and operational decisions in a rational and rigorous manner. This book provides a broad overview of modeling approaches and solution methodologies for addressing service parts inventory problems found in high-powered technology and aerospace applications. The focus in this work is on the management of high cost, low demand rate service parts found in multi-echelon settings.

The text may be used in a variety of courses for first-year graduate students or senior undergraduates, as well as for practitioners, requiring only a background in stochastic processes and optimization. It will serve as an excellent reference for key mathematical concepts and a guide to modeling a variety of multi-echelon service parts planning and operational problems.

Provides a broad overview of modeling approaches and solution methodologies for addressing inventory problems, particularly the management of high cost, low demand rate service parts found in multi-echelon settings The text may be used in a variety of courses for first-year graduate students or senior undergraduates, or as a reference for researchers and practitioners A background in stochastic processes and optimization is assumed

Inhalt
Background: Analysis of (s-1, s) and Order-Up-To Policies.- Background Concepts: An Introduction to the (s-1, s) Policy under Poisson and Compound Poisson Demand.- An Exact Model for a Depot-Base Two Echelon Inventory and Repair System.- Tactical Planning Models for Managing Recoverable Items.- A Continuous Time, Multi-Echelon, Multi-Item System with Time-Based Service Level Constraints.- Lateral Resupply and Pooling in Multi-Echelon Systems.- Capacity-limited Systems.- Extension of Palm's Theorem to Nonstationary Demand Processes.- Real-time Execution Systems.