Optimal buffer inventory for maintenance action under random production capacity availability

Abstract

To a prolonged operation production system, if the availability of facility production capability is strong randomness, design appropriate amount of buffer stock to meet the continued operation or the maximum to reduce the loss because of the preventive maintenance process and occasional failure is very necessary. In this paper, we trade off the holding cost, shortage cost, the occasional failure loss, defective production loss cost of the facility, etc, and then use data weighted integration and Nelder-Mead delete method to deduce the optimal buffer stock strategy. The example shows that compared with the programs did not use optimize inventory, the optimize inventory program is the most economical.