Reliability Analysis for Inventory Management for Repair Parts Based on Imperfect Data

Si-Il Sung ()
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Si-Il Sung: Kyonggi University

A chapter in Analytics Modeling in Reliability and Machine Learning and Its Applications, 2025, pp 1-11 from Springer

Abstract: Abstract This chapter focuses on the appropriate inventory management of repair parts to increase the operational availability of production equipment. In practice, many small and medium-sized companies in South Korea face limitations in establishing an appropriate database for the maintenance. To address this issue, this chapter introduces a simple approach that utilizes purchase history records based on Monte-Carlo simulation. By using purchase history records, it is possible to generate a much larger amount of failure information than what is available from imperfect maintenance records, which can then be used to help the inventory management.

Keywords: Reliability centered maintenance; Reliability analysis; Purchase record; Inventory management (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:ssrchp:978-3-031-72636-1_1

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DOI: 10.1007/978-3-031-72636-1_1

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