Determination of recovery effort for a probabilistic recovery system under various inventory control policies
2004-03-10
Research Paper
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In this study we investigate the desired level of recovery under various inventory control policies when the success of recovery is probabilistic. Recovery process is modelled as a single stage operation and recovery effort is represented by the expected time spent for it. The effect of increasing recovery effort on the success probability together with unit cost of the operation is included by assuming general forms of dependencies. The desired level of recovery is investigated under four inventory control policies for a wide range of system parameters. In this article, we present our computational results and their managerial implications.
Keywords
Automatically Extracted Terms
- recovery
- 0.00
- policy
- recovery operation
- inventory
- operation
- table
- inventory control policies
- level
- recovery effort
- parameter
- system
- probability
- number
- life time
- supplier
- value
- demand
- unit cost
- effort
