Research on Spare Parts Inventory Control Based on Modified Team Order Policy

摘要

Based on the improved team order point policy, the model and algorithm for joint replenishment materials inventory under stochastic demands are analyzed and established. The differences for team order point policy are that the items with inventory position less or equal to the order point, are ordered. Firstly, the problem is decomposed. Secondly, the model of average cost per time unit based on semi-Markov process is established. Finally, the algorithm with two loops to solve the model is proposed. The optimal team order point and single order policy parameter with two loops are solved by the proposed algorithm, respectively. A numerical example shows that the optimal policy significantly reduce the operating costs.