Review
Management
Cerag Pince, Laura Turrini, Joern Meissner
Summary: Forecasting spare parts demand has been a challenging issue for many companies, and has received considerable attention over the past fifty years. This paper provides a critical review and quantitative analysis of current literature on spare parts demand forecasting methods, offering detailed insights into when and why particular forecasting methods should be preferred.
OMEGA-INTERNATIONAL JOURNAL OF MANAGEMENT SCIENCE
(2021)
Article
Computer Science, Interdisciplinary Applications
Pieterjan Dendauw, Thomas Goeman, Dieter Claeys, Koen De Turck, Dieter Fiems, Herwig Bruneel
Summary: Condition-based maintenance strategy is proposed to significantly reduce operational costs by implementing preventive maintenance at critical levels, avoiding costly downtimes due to stock-outs. The study establishes a numerical procedure for selecting optimal base-stock and critical level thresholds, showing that the proposed critical level policy can indeed lead to substantial cost savings compared to traditional base-stock policies.
COMPUTERS & INDUSTRIAL ENGINEERING
(2021)
Review
Engineering, Industrial
Alessandra Cantini, Mirco Peron, Filippo De Carlo, Fabio Sgarbossa
Summary: Configuring supply chains is crucial for the success of spare parts retailers. This paper introduces a new methodology called SP-LACE, which reviews the configuration of spare parts supply chains and evaluates their economic benefits. The results indicate that SP-LACE provides economic benefits and ensures high service levels, overcoming the limitations of existing literature methodology.
INTERNATIONAL JOURNAL OF PRODUCTION RESEARCH
(2023)
Review
Green & Sustainable Science & Technology
Shuai Zhang, Kai Huang, Yufei Yuan
Summary: The importance of spare parts inventory management is gaining attention, particularly in the pursuit of sustainability. Research in this area is mainly divided into two categories, focusing on spare parts characteristics and research methodologies, and emphasizing supply chain structures and analytical techniques.
Article
Mathematics
Ernesto Armando Pacheco-Velazquez, Manuel Robles-Cardenas, Saul Juarez Ordonez, Abelardo Ernesto Damy Solis, Leopoldo Eduardo Cardenas-Barron
Summary: This article presents a heuristic method to determine the optimal inventory level for spare parts, aiming to minimize total costs. The research offers a valuable decision-making framework based on two parameters, providing a quick and reliable estimation for practitioners.
Article
Management
Melvin Drent, Joachim Arts
Summary: The study explores dual sourcing in a distribution network and proposes optimization solutions using queuing theory and a greedy heuristic method, achieving effective inventory management and reduced stock investments. With dynamic repair policies, expedited repairs can significantly improve the utilization of repairable spare parts and reduce stock investments.
M&SOM-MANUFACTURING & SERVICE OPERATIONS MANAGEMENT
(2021)
Article
Engineering, Manufacturing
Christiane B. Haubitz, Ulrich W. Thonemann
Summary: Inventory optimization approaches often focus on steady-state performance and may overlook the transition from an initial state to the optimized state. This study addresses the issue by proposing a phased approach to changing base stock levels in order to avoid undesirable effects. By modeling the inventory transition as a finite-horizon optimization problem and applying specific methods, it is possible to control the transition process effectively and improve fill rates without exceeding the initial inventory budget.
PRODUCTION AND OPERATIONS MANAGEMENT
(2021)
Article
Engineering, Industrial
M. Z. Babai, H. Chen, A. A. Syntetos, D. Lengu
Summary: This paper proposes a new Bayesian method based on compound Poisson distributions, which outperforms the traditional Poisson-based Bayesian method, especially in cases of high demand variability. Additionally, the non-parametric method shows improved performance for longer lead-times and higher demand variability compared to the parametric one.
INTERNATIONAL JOURNAL OF PRODUCTION ECONOMICS
(2021)
Article
Management
Cesar Ruiz, Edward Pohl, Haitao Liao
Summary: Decision makers in various sectors such as manufacturing and transportation aim to minimize downtime costs by utilizing planned stoppage times to make changes in shifts and line configurations. The availability of spare parts significantly impacts operational costs, with sensor technologies enabling condition monitoring and degradation-based spare parts management. This paper focuses on Bayesian degradation modelling for spare parts inventory management, proposing a stochastic dynamic program to minimize expected spare parts inventory cost for a fixed planning horizon. A numerical example illustrates the value of Bayesian analysis in this context, showing optimal time between long stoppages and spare parts order quantity when prior information about degradation is accurate. The methodology can analyze sensitivity of optimal solutions to changes in accuracy and bias of prior distributions of model parameters, cost structure, and number of machines in the system.
IMA JOURNAL OF MANAGEMENT MATHEMATICS
(2021)
Article
Computer Science, Interdisciplinary Applications
Mustafa Hekimoglu, A. Gurhan Kok, Mustafa Sahin
Summary: This study develops an advanced stockout risk estimation system for repairable spare parts, using statistical data to estimate future stockout risks, and proposes a repairable inventory control system including repair expediting, inspection, and condemnation processes. The suggested method outperforms heuristic approaches in empirical tests, achieving high accuracy rates and suggesting savings of up to 8%.
COMPUTERS & OPERATIONS RESEARCH
(2022)
Article
Management
Leandro Reis Muniz, Samuel Vieira Conceicao, Lasara Fabricia Rodrigues, Joao Flavio de Freitas Almeida, Tassia Bolotari Affonso
Summary: This paper presents a new hybrid approach based on criticality analysis and optimization for spare parts inventory management in the mining industry. The study combines qualitative and quantitative methods to obtain the spare parts to be stocked, achieving an increase in criticality and number of items stocked compared to historical data. The proposed approach provides systematic tools for analyzing the trade-off between spare parts criticality and total inventory value.
INTERNATIONAL JOURNAL OF LOGISTICS MANAGEMENT
(2021)
Article
Engineering, Industrial
Chaaben Kouki, Christian Larsen
Summary: The study focuses on a spare parts inventory system controlled by a base-stock policy, investigating two rationing policies for critically low inventory levels: reservation policy and threshold policy. Results show that in some cases, the threshold policy outperforms the reservation policy, while in other cases, the difference between the two is minimal.
INTERNATIONAL JOURNAL OF PRODUCTION RESEARCH
(2021)
Article
Engineering, Electrical & Electronic
Baokui Yang, Xiaosheng Si, Hong Pei, Jianxun Zhang, Huiqing Li
Summary: This study proposes a joint maintenance strategy considering the uncertainty of the number of imperfect maintenance activities for nonlinear degraded equipment. It linearizes the nonlinear degradation data and constructs a degradation model under the influence of imperfect activities. The number of maintenances is calculated, and decision variables are optimized to minimize cost.
Article
Management
Yue Zhang, Bram Westerweel, Rob Basten, Jing-Sheng Song
Summary: This study examines how an original equipment manufacturer (OEM) can digitize the spare parts supply chain using 3D printing and intellectual property (IP) licensing. The results show that IP licensing can drive production decentralization in the supply chain, leading to increased profits for the OEM.
M&SOM-MANUFACTURING & SERVICE OPERATIONS MANAGEMENT
(2022)
Article
Computer Science, Interdisciplinary Applications
Goncalo Cardeal, Marco Leite, Ines Ribeiro
Summary: This paper aims to contribute to the large-scale adoption of additive manufacturing by proposing and demonstrating a decision-support model that identifies spare parts suitable for AM and supports the definition of optimized warehouse management strategies. The application of the model in the paper and pulp industry demonstrates significant economic gains from properly identifying spare parts and optimizing management strategies. However, there are still environmental difficulties to be overcome for large-scale adoption.
COMPUTERS IN INDUSTRY
(2023)