Determination of recovery effort for a probabilistic recovery system under various inventory control policies
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.
|inventory control, probabilistic recovery|
|Econometric Institute Research Papers|
|Report / Econometric Institute, Erasmus University Rotterdam|
|Organisation||Erasmus School of Economics|
Bayindir, Z.P, Dekker, R, & Porras Musalem, E. (2004). Determination of recovery effort for a probabilistic recovery system under various inventory control policies (No. EI 2004-08). Report / Econometric Institute, Erasmus University Rotterdam. Retrieved from http://hdl.handle.net/1765/1191