3D Printing as an Alternative Supply Option in Spare Parts Inventory Management

Marko Jakšič () and Peter Trkman
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Marko Jakšič: University of Ljubljana
Peter Trkman: University of Ljubljana

A chapter in Operations Research Proceedings 2016, 2018, pp 617-622 from Springer

Abstract: Abstract We study a spare parts stochastic production/inventory problem of a manufacturer, where he has an option to source parts from a relatively inflexible conventional regular supplier ordering in large batches with long replenishment lead time, or alternatively from a flexible in-house or outsourced 3D printing facility. We derive the dynamic programming formulation for cost associated with utilizing the 3D printing supply option and give some insights into the structure of the optimal policy. In a numerical experiment, we compare the performance of this hybrid sourcing strategy with the regular sourcing option, and provide some managerial insights.

Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:oprchp:978-3-319-55702-1_81

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DOI: 10.1007/978-3-319-55702-1_81

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