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.
| Original language | English |
|---|---|
| Place of Publication | Eindhoven |
| Publisher | Technische Universiteit Eindhoven |
| Number of pages | 28 |
| Publication status | Published - 2012 |
Publication series
| Name | BETA publicatie : working papers |
|---|---|
| Volume | 371 |
| ISSN (Print) | 1386-9213 |
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Cite this
Lin, X., Basten, R. J. I., Kranenburg, A. A., & Houtum, van, G. J. J. A. N. (2012). Condition based spare parts supply. (BETA publicatie : working papers; Vol. 371). Eindhoven: Technische Universiteit Eindhoven.