Closing The Gap: A Digital Twin as a Mechanism to Improve Spare Parts Planning Performance

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Abstract

In order to meet service level agreements at minimal cost, Original Equipment Manufacturers (OEMs) use spare parts planning models to determine the optimal base stock levels at the warehouses in their service network. In practice, however, these optimized base stock levels result in a realized performance that deviates from the expected performance. Therefore, it is beneficial for these companies to evaluate the base stock levels in terms of service performance, inventory value, and costs. In order to measure this planning performance, we developed a digital twin that is able to measure the planning performance and identify root causes for the performance gap. Our digital twin helped ASML, an OEM in the semiconductor industry, to create a feedback loop between the spare parts planning model and its realized performance in practice, providing a mechanism to learn from past results and determine actions to close the gap between the expected and realized performance.

Original languageEnglish
Title of host publicationProceedings of the 2022 Winter Simulation Conference
EditorsB. Feng, G. Pedrielli, Y. Peng, S. Shashaani, E. Song, C.G. Corlu, L.H. Lee, E.P. Chew, T. Roeder, P. Lendermann
PublisherInstitute of Electrical and Electronics Engineers
Pages1533-1544
Number of pages12
ISBN (Electronic)978-1-6654-7661-4
DOIs
Publication statusPublished - 23 Jan 2023
Event2022 Winter Simulation Conference, WSC 2022: Reimagine Tomorrow - Singapore, Singapore
Duration: 11 Dec 202214 Dec 2022
https://meetings.informs.org/wordpress/wsc2022/

Conference

Conference2022 Winter Simulation Conference, WSC 2022
Country/TerritorySingapore
CitySingapore
Period11/12/2214/12/22
Internet address

Keywords

  • maintenance
  • spare parts

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