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Spare Parts Inventory Control under System Availability Constraints

2015-05-18 Business & Economics
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Release : 2015-05-18
Genre : Business & Economics
Kind : eBook
Book Rating : 094/5 ( reviews)

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Book Synopsis Spare Parts Inventory Control under System Availability Constraints by : Geert-Jan van Houtum

Download or read book Spare Parts Inventory Control under System Availability Constraints written by Geert-Jan van Houtum. This book was released on 2015-05-18. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on the tactical planning level for spare parts management. It describes a series of multi-item inventory models and presents exact and heuristic optimization methods, including greedy heuristics that work well for real, life-sized problems. The intended audience consists of graduate students, starting scholars in the field of spare parts inventory control, and spare parts planning specialists in the industry. In individual chapters the authors consider topics including: a basic single-location model; single-location models with multiple machine types and/or machine groups; the multi-location model with lateral transshipments; the classical METRIC model and its generalization to multi-indenture systems; and a single-location model with an explicit modeling of the repair capacity for failed parts and the priorities that one can set there. Various chapters of the book are used in a master course at Eindhoven University of Technology and in a PhD course of the Graduate Program Operations Management and Logistics (a Dutch network that organizes PhD courses in the field of OM&L). The required pre-knowledge consists of probability theory and basic knowledge of Markov processes and queuing theory. End-of-chapter problems appear for all chapters, with some answers appearing in an appendix.

Spare Parts Inventory Control Under a Fixed-Term Contract with a Long-Down Constraint

2019
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Release : 2019
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Book Synopsis Spare Parts Inventory Control Under a Fixed-Term Contract with a Long-Down Constraint by : Douniel Lamghari-Idrissi

Download or read book Spare Parts Inventory Control Under a Fixed-Term Contract with a Long-Down Constraint written by Douniel Lamghari-Idrissi. This book was released on 2019. Available in PDF, EPUB and Kindle. Book excerpt: We are interested in service contracts for spare parts. We introduce a new performance measure, XLD (extreme long down), that limits the number of deliveries that are later than an agreed threshold during the contract period. We consider a single item, single location stockpoint serving multiple systems where demand is satisfied in an alternative way if the stockpoint is out of stock. Using a finite horizon Markov decision process, we derive the optimal spare parts inventory policy for meeting the contract at minimum costs. We prove that a state-dependent and time-dependent base stock policy is optimal. We also prove that the optimal base stock level is non-increasing in the number of allowed extreme long downs in the remaining contract period and that the optimal base stock level decreases at most by one unit per step. We formulate three heuristics for our finite horizon problem. These heuristics are a translation of heuristics commonly used for other service measures than the XLD measure. We assess their performance in comparison to the optimal policy. The results of our numerical study show that Heuristic 3, a myopic heuristic, is the best performing with an average optimality gap of 4.5% and an optimality gap lower than 5% in 81% of the instances. The maximum optimality gap is very high for all three heuristics, showing that important savings can be made by taking into account the actual contract performance and the remaining contract duration in stocking decisions.

Condition Based Maintenance of a Single System Under Spare Part Inventory Constraints

2008 Electronic dissertations
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Release : 2008
Genre : Electronic dissertations
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Book Synopsis Condition Based Maintenance of a Single System Under Spare Part Inventory Constraints by :

Download or read book Condition Based Maintenance of a Single System Under Spare Part Inventory Constraints written by . This book was released on 2008. Available in PDF, EPUB and Kindle. Book excerpt: The problem of effectively integrating condition based maintenance and spare part inventory control is studied and a solution methodology demonstrated. Degradation modeling, Bayesian analysis, and optimization techniques are utilized to define a condition based maintenance model for a single production system under spare part inventory constraints. Specifically, the gamma process is used to model the degradation process for a system that has a monotonically increasing degradation behavior. The initial gamma process parameters are inferred during product testing and utilized to define a spare part optimization model. This optimization model is used to ascertain the stockout probability to support the system. To address the uncertainty in parameter estimates, the gamma process parameters are updated through a Bayesian updating technique as more degradation data is collected over time for a real time remaining useful life prediction of the component. Finally, condition based maintenance and spare part inventory control are tied together into a overall production decision model. The production decision model generates an optimal degradation limit maintenance policy which provides a means to make component replacement decisions while addressing the relationship among outstanding orders, the number of spares, and the degradation state. One can see that the methodology developed in this thesis effectively ties together condition based maintenance, production, and spare parts inventory control. This body of work is important in the area of reliability and maintenance engineering since it provides a way of controlling spare parts in conjunction with condition based maintenance and production. This concept addresses a relationship which is not well developed in the literature, yet has a significant practical value.

"CPDREV" a Spare Parts Inventory Control System

1969 Industrial equipment
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Author :
Release : 1969
Genre : Industrial equipment
Kind : eBook
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Book Synopsis "CPDREV" a Spare Parts Inventory Control System by : A. C. Morgenthaler

Download or read book "CPDREV" a Spare Parts Inventory Control System written by A. C. Morgenthaler. This book was released on 1969. Available in PDF, EPUB and Kindle. Book excerpt:

Hierarchical Spare Parts Inventory Systems

1986 Business & Economics
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Release : 1986
Genre : Business & Economics
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Book Synopsis Hierarchical Spare Parts Inventory Systems by : Rastko Petrović

Download or read book Hierarchical Spare Parts Inventory Systems written by Rastko Petrović. This book was released on 1986. Available in PDF, EPUB and Kindle. Book excerpt:

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