2014
DOI: 10.1108/imds-01-2013-0025
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Exploring incomplete information in maintenance materials inventory optimization

Abstract: Purpose – Ensuring the sufficient service level is essential for critical materials in industrial maintenance. This study aims to evaluate the use of statistically imperfect data in a stochastic simulation-based inventory optimization where items' failure characteristics are derived from historical consumption data, which represents a real-life situation in the implementation of such an optimization model. Design/methodology/approach – T… Show more

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Cited by 6 publications
(6 citation statements)
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“…In this paper, the use of the term "customer services" focuses on after-sales services. The supply chain for after-sales differs from production supply chain in terms of nature of demand, response times, performance metrics, the amount of products, delivery network, reverse logistics, and inventory management (Cohen, Agrawal & Agrawal, 2006;Iraqi, Barkany & Biyaali, 2016;Puurunen, Majava & Kess, 2014).…”
Section: After-sales Services and Business Modelsmentioning
confidence: 99%
“…In this paper, the use of the term "customer services" focuses on after-sales services. The supply chain for after-sales differs from production supply chain in terms of nature of demand, response times, performance metrics, the amount of products, delivery network, reverse logistics, and inventory management (Cohen, Agrawal & Agrawal, 2006;Iraqi, Barkany & Biyaali, 2016;Puurunen, Majava & Kess, 2014).…”
Section: After-sales Services and Business Modelsmentioning
confidence: 99%
“…External consultation, training, and recruitment may therefore be preconditions for the development work. The availability of proper data should also be ensured (e.g., [29]). …”
Section: Managerial Implicationsmentioning
confidence: 99%
“…Despite there being much research in decision support for inventory management, most of the research is focused on the manufacturing industries and industrial applications. Puurunen et al (2014) explored a real-life situation in the implementation of an optimization model by evaluating the use of incomplete data in stochastic simulation-based inventory optimization for industrial maintenance. Nakandala et al (2014) explored cost optimization methods to tackle the uncertain demand environment for cost minimization, different industrial scenarios being used as a case study.…”
Section: Introductionmentioning
confidence: 99%