BAYESIAN SUPPLY POLICIES FOR SERVICE-LIFE PARTS

Abstract

The characteristic feature of service-life parts, from the standpoint of inventory theory in particular and of logistics management in general, is that demands (i.e., parts failures) are not generated by a Poisson process, because failures are not independent of age. The applicable statistical models are those of renewal theory and replacement theory. Where uncertainty exists concerning the parameters of the underlying failure distribution, the techniques of Bayesian decision theory may be advantageously applied. This memorandum examines some of the theoretical and practical implications of applying Bayesian tech niques to the logistics of service-life parts.

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Document Details

Document Type
Technical Report
Publication Date
Mar 27, 1963
Accession Number
AD0405106

Entities

People

  • T.a. Goldman

Organizations

  • Center for Naval Analyses

Tags

Communities of Interest

  • Human Systems

DTIC Thesaurus Topics

  • Aircrafts
  • Airframes
  • Business Administration
  • Data Science
  • Decision Theory
  • Electronic Components
  • Logistics Management
  • Maintenance
  • Operating Systems
  • Operations Research
  • Probability
  • Probability Distributions
  • Procurement
  • Replacement Theory
  • Spare Parts
  • Statistical Analysis
  • Statistics

Readers

  • Life Cycle Cost Analysis
  • Statistical inference.
  • Theoretical Analysis.

Technology Areas

  • AI & ML
  • AI & ML - Bayesian Inference