Paper Info
Title
Cost of ownership model for spare engines purchase for the Korean navy acquisition program
Abstract
Major weapon system acquisition programmes often require high initial purchase cost which can be a burden for the procurement of a highly reliable system. In order to avoid the tendency of acquiring a less expensive weapon system with lower performance, a cost of ownership (COO) model can be applied to assess the lifetime cost of the weapon system. In many existing cost estimation models for weapon systems, the failure rate of the system is assumed to be constant and the functional relationship between the initial purchase cost and maintenance cost is not well defined. In this paper, we propose a revised COO model where random effects models are employed to accommodate the variations of the system failure frequency and repair time. It is expected that our model can contribute to the cost-effective procurement of spare engines for the Korean Navy acquisition programme within the limited national defence budget. Journal of the Operational Research Society (2009) 60, 1674-1682. doi:10.1057/jors.2008.147 Published online 17 June 2009
Year
DOI
Venue
2009
10.1057/jors.2008.147
JORS
Keywords
Field
DocType
information technology,management science,communications technology,logistics,project management,scheduling,investment,computer science,marketing,reliability,operational research,information systems,forecasting,inventory,production,location,operations research
Cost estimation models,Relevant cost,Weapon system,Spare part,Computer science,Operations research,Failure rate,Cost estimate,Purchasing,Procurement,Operations management
Journal
Volume
Issue
ISSN
60
12
0160-5682
Citations 
PageRank 
References 
0
0.34
16
Authors
3
Name
Order
Citations
PageRank
S. Y. Sohn1839.00
Yong Jin Kim235925.43
B. T. Kim300.34