Spare optimization models for series and parallel structures
Proposes optimization models for spare provisioning. In the first model, considers a series system with m components where each component can have a maximum of (n-1) spares. The objective function is to maximize the availability of the system satisfying a constraint on space required for the spares. In the second model, considers a series-parallel system where each component of the system can have a maximum of (n-1) spares. The optimization models developed in the paper can be solved using general purpose software such as SOLVER of EXCEL. Also presents an efficient branch and bound algorithm which can be used to solve the optimization problem.