A spare parts stocking policy based on equipment criticality
Demand for spare parts can sometimes be classified into critical and non-critical demand, depending on the criticality of the equipment in which it is installed. To effectively handle this situation in spare parts inventory control, we propose a stocking policy where some of the stock is reserved for critical demand. For Poisson demand and a lot-for-lot stocking policy with positive replenishment leadtime, approximations of the service levels for both classes of demand are derived, and verified by simulation. Finally, a numerical example is presented to illustrate the advantages of using the proposed policy.
|Keywords||demand classes, equipment criticality, inventory control, spare parts|
Dekker, R., Kleijn, M.J., & de Rooij, P.J.. (1996). A spare parts stocking policy based on equipment criticality (No. EI 9625-/A). Retrieved from http://hdl.handle.net/1765/1384