Accession Number : ADA018312

Title :   A Multi-Item Inventory Model for Combat Stores Ships.

Descriptive Note : Master's thesis.


Personal Author(s) : Taylor,Charles Floyd , Jr

Report Date : SEP 1975

Pagination or Media Count : 63

Abstract : The inventory model currently used by Combat Stores Ships (AFS'S) is described and criticized. A simplified procedure for treating essentiality is presented. A multi-item inventory model was developed which minimizes the expected value of essentiality weighted units short, subject to a constraint on total investment. With only slight modification, the model can be made to minimize the expected value of essentiality-weighted requisitions short. In tests using actual AFS demand data, the proposed model was compared to the current model and found to be markedly superior; specifically, the model was much less expensive to operate (in terms of investment levels) for fixed levels of performance (in terms of essentiality-weighted units short and in terms of line item effectiveness). At the 95% line item effectiveness level, for example, the proposed model required less than one third the investment required by the current model. An important by-product of the analysis was the discovery that AFS inventory demand conforms closely to a mixed Bernoulli/exponential probability distribution. (Author)

Descriptors :   *Inventory, *Inventory analysis, Cargo, Inventory control, Spare parts, Probability distribution functions, Operations research, Naval operations, Theses, Procurement, Naval vessels, Economic models

Subject Categories : Marine Engineering
      Logistics, Military Facilities and Supplies

Distribution Statement : APPROVED FOR PUBLIC RELEASE