Management Review

›› 2015, Vol. 27 ›› Issue (10): 195-203.

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Research on Inventory Model of Airport Emergency Supplies with Random Occurrence Time——Based on a Single Emergency Preparedness Phase for Medical Supplies

Pan Wei1, Guo Ying1, Liu Shan1, Liao Shujie2   

  1. 1. Economics and Management School of Wuhan University, Wuhan 430072;
    2. Department ofGynaecology and Obstetrics, Tongji Hospital, Tongji Medical College, Huazhong University of Science and Technology, Wuhan 430030
  • Received:2015-01-23 Online:2015-10-31 Published:2015-11-06

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Abstract:

High incidence of civil aviation accident near the airport highlights the importance of the medical emergency supplies and equipments stored in airports. The medical emergency supplies and equipments always have short life cycle and require high quality. This paper establishes an inventory model of medical supplies and equipments in the emergency preparation phase. The model takes the uncertainty of demand and aviation accident occurrence time into account, and deduces relationships between risk neutral and risk-averse attitudes with the stochastic occurrence time and determinate occurrence time. It concludes that the optimal inventory level of medical supplies is not only related to the shelf life, but also related to the distribution of random demand and occurrence time; it also concludes that the effect of stochastic occurrence time on the optimal decision is different between different risk criterions. By using the probability density function, this paper verifies that decision under the rule of risk aversion is the result of balance between risks and costs.

Key words: emergency supplies, stochastic occurrence, emergency preparedness, risk aversion