Abstract
In this paper we present a componentwise delay measure for estimating and improving the expected delays experienced by customers in a multi-component inventory/ assembly system. We show that this measure is easily computed. Further, in an environment where the performance of each of the item delays could be improved with investment, we present a solution that aims to minimize this measure and, in effect, minimizes the average waiting time experienced by customers.
Original language | English (US) |
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Pages (from-to) | 184-194 |
Number of pages | 11 |
Journal | Naval Research Logistics |
Volume | 50 |
Issue number | 2 |
DOIs | |
State | Published - Mar 2003 |
Externally published | Yes |
Keywords
- Fixed budget
- Greedy allocation
- Multi-component inventory/assembly system
- Random lead times
ASJC Scopus subject areas
- Modeling and Simulation
- Ocean Engineering
- Management Science and Operations Research