Goodeve Medal

This award was named in memory of Sir Charles Goodeve, pictured right, who was one of the founders and pioneers of civilian operational research after World War 2 and a leader for many years of the OR Club and The OR Society.

The Goodeve Medal is awarded in recognition of the most outstanding contribution to the philosophy, theory or practice of OR published in the Journal of the OR Society (JORS) within the relevant year.

Sir Charles Goodeve

Citation for Goodeve Medal 2021

Greg H. Gehret, Jeffery D. Weir, Alan W. Johnson, David R. Jacques

Advancing stock policy on repairable, intermittently-demanded service parts. 

Journal of the Operational Research Society, Volume 71 (9) 1437-1447

Many firms generate revenue by operating systems or fleets, such as rental cars, aircraft, equipment etc. The contribution of service parts to the availability of the system or fleet is well documented. The majority of service parts are intermittently demanded. Research on intermittent demand has primarily focused on forecast accuracy and generally does not distinguish between the stock policies of consumable versus repairable parts, although repair is sometimes more cost-effective. But managing repairable parts is considerably more complex than managing consumable parts.

In this paper, the authors employ a new approach to advance the supply chain manager’s ability to determine cost-effective stock. They use a multi-objective approach, covering waiting times and various components of cost. They solve this using different approaches, including seeking a Pareto surface.

They test the new approach via a case study and show the approach to be beneficial for a given firm The approach is generalisable to many sectors, including transport, health and local services. This paper offers a significant development of stock modelling.

From left to right: Jeffery D. Weir, Alan W. Johnson, David R. Jacques, Greg H. Gehret

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