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the parts might never be used; the parts might not be stored properly, leading to defects; maintaining inventory of spare parts has associated costs; parts may not be available when needed from a supplier; But without the spare part on hand, a company's customer satisfaction levels could drop if a customer has to wait too long for their item to ...
In an industrial environment, spare parts are described in several manner to distinguish key features of various spare parts. The following describes spare part types and their typically functionality. 1. Capital parts are spare parts which, although acknowledged to have a long life or a small chance of failure, would cause a long shutdown of ...
Multi-objective optimization or Pareto optimization (also known as multi-objective programming, vector optimization, multicriteria optimization, or multiattribute optimization) is an area of multiple-criteria decision making that is concerned with mathematical optimization problems involving more than one objective function to be optimized simultaneously.
In the balanced assignment problem, both parts of the bipartite graph have the same number of vertices, denoted by n. One of the first polynomial-time algorithms for balanced assignment was the Hungarian algorithm. It is a global algorithm – it is based on improving a matching along augmenting paths (alternating paths between unmatched vertices).
Typically, supply-chain managers aim to maximize the profitable operation of their manufacturing and distribution supply chain. This could include measures like maximizing gross margin return on inventory invested (balancing the cost of inventory at all points in the supply chain with availability to the customer), minimizing total operating expenses (transportation, inventory and ...
The constrained-optimization problem (COP) is a significant generalization of the classic constraint-satisfaction problem (CSP) model. [1] COP is a CSP that includes an objective function to be optimized. Many algorithms are used to handle the optimization part.