Show simple item record

dc.contributor.authorHekimoğlu, Mustafa
dc.contributor.authorvan der Laan, Ervin
dc.contributor.authorDekker, Rommert
dc.date.accessioned2019-06-27T08:03:45Z
dc.date.available2019-06-27T08:03:45Z
dc.date.issued2018
dc.identifier.issn0377-2217
dc.identifier.issn1872-6860
dc.identifier.urihttps://hdl.handle.net/20.500.12469/837
dc.identifier.urihttps://doi.org/10.1016/j.ejor.2018.02.040
dc.description.abstractSpare parts supply chains are highly dependent on the dynamics of their installed bases. A decreasing number of capital products in use increases the nonstationary supply-side risk especially towards the end-of-life of capital products. This supply-side risk appears to present itself through varying lead times coupled with supply disruptions. To model the nonstationary supply-side risk we consider an exogenous Markov chain that modulates random lead times and disruption probabilities. Assuming that order crossovers do not occur we prove the optimality of a state-dependent base stock policy. Later we conduct an impact study to understand the value of considering stochastic lead times and supply disruption risk in spare parts inventory control. Our results indicate that the coupled effect of random lead times and disruptions can be larger than the summation of individual effects even for moderate lead time variances. Also the effect of nonstationarity on total cost can be as large as the summation of all risk factors combined. In addition to this managerial insight we present a procedure for supply risk mitigation based on an empirical model and our mathematical model. Experiments on a real business case indicate that the procedure is capable of reducing costs while making the inventory system more prepared for disruptions. (C) 2018 Elsevier B.V. All rights reserved.
dc.language.isoEnglish
dc.publisherElsevier Science Bv
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectSupply chain management
dc.subjectSupply risk
dc.subjectStochastic lead times
dc.subjectOptimal inventory control
dc.subjectSpare parts
dc.titleMarkov-modulated analysis of a spare parts system with random lead times and disruption risks
dc.typeArticle
dc.identifier.startpage909
dc.identifier.endpage922
dc.relation.journalEuropean Journal of Operational Research
dc.identifier.issue3
dc.identifier.volume269
dc.identifier.wosWOS:000432768700010
dc.identifier.doi10.1016/j.ejor.2018.02.040
dc.contributor.khasauthorHekimoğlu, Mustafa


Files in this item

FilesSizeFormatView

There are no files associated with this item.

This item appears in the following Collection(s)

Show simple item record