2017
DOI: 10.1016/j.ress.2017.05.035
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Condition based spare parts supply

Abstract: We consider a spare parts stock point that serves an installed base of machines.Each machine contains the same critical component, whose degradation behavior is described by a Markov process. We consider condition based spare parts supply, and show that an optimal, condition based inventory policy is 20% more efficient on average than a standard, state-independent base stock policy. We further propose an efficient and effective heuristic policy.

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Cited by 37 publications
(16 citation statements)
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“…They propose heuristics for order and inventory allocation decisions, and find that the joint inventory requirement will be reduced due to the effect of risk pooling. Wang and Syntetos (2011), Topan et al (2018), Poppe et al (2017) and Lin et al (2017) pioneer new approaches towards spare parts inventory control driven by planned/foreseen maintenance, and as such they are arguably most closely related to our present work. Wang and Syntetos (2011) consider a block-based inspection policy.…”
Section: Literature Reviewmentioning
confidence: 66%
See 1 more Smart Citation
“…They propose heuristics for order and inventory allocation decisions, and find that the joint inventory requirement will be reduced due to the effect of risk pooling. Wang and Syntetos (2011), Topan et al (2018), Poppe et al (2017) and Lin et al (2017) pioneer new approaches towards spare parts inventory control driven by planned/foreseen maintenance, and as such they are arguably most closely related to our present work. Wang and Syntetos (2011) consider a block-based inspection policy.…”
Section: Literature Reviewmentioning
confidence: 66%
“…In particular, while our method needs more data than typical time-series methods, we need considerably less data and information than approaches based on the degradation process (e.g. Deshpande et al, 2006;Wang and Syntetos, 2011) or on system monitoring systems Topan et al (2018); Lin et al (2017); Poppe et al (2017).…”
Section: Introductionmentioning
confidence: 99%
“…Due to the variety of scenarios, further efforts to improve upon the proposed model, taking into account new variables [22] such as the level of degradation [23], failure and shock rates [24], delivery time of components [25], among others, are needed. Nonetheless, one should be aware that handling several parameters at the same time could result in complex solution systems [4].…”
Section: Discussionmentioning
confidence: 99%
“…They found the optimal preventive maintenance threshold to satisfy the spare parts support requirements. Lin et al showed that condition-based inventory policy increases about twenty percent of the system efficiency [14]. Auweraer and Boute proposed a method to forecast spare part demand based on service maintenance information [15].…”
Section: Introductionmentioning
confidence: 99%