Spare parts inventory control based on maintenance planning

Sha Zhu, Willem van Jaarsveld and Rommert Dekker

Reliability Engineering and System Safety, 2020, vol. 193, issue C

Abstract: For many maintenance organizations, on-condition maintenance tasks are the most important source of spare part demand. An uneven distribution of maintenance tasks over time is an important cause for intermittency in spare parts demand, and this intermittency complicates spare parts inventory control severely. In an attempt to partially overcome these complications, we propose to use the maintenance plan, i.e. the planned maintenance tasks, as a source of advance demand information. We propose a simple forecasting mechanism to estimate the spare part demand distribution based on the maintenance plan, and develop a dynamic inventory control method based on these forecasts. The value of this approach is benchmarked against state-of-the art time series forecast methods, using data from two large maintenance organizations. We find that the proposed method can yield cost savings of 23 to 51% compared to the traditional methods.

Keywords: Spare parts forecasting; Spare parts inventory control; Maintenance planning, (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (16)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:reensy:v:193:y:2020:i:c:s0951832019300663

DOI: 10.1016/j.ress.2019.106600

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