Condition based spare parts supply

X. Lin, R.J.I. Basten, A.A. Kranenburg, G.J.J.A.N. Houtum, van

Research output: Book/ReportReportAcademic

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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 languageEnglish
Place of PublicationEindhoven
PublisherTechnische Universiteit Eindhoven
Number of pages28
Publication statusPublished - 2012

Publication series

NameBETA publicatie : working papers
Volume371
ISSN (Print)1386-9213

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Markov processes
Degradation

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.
Lin, X. ; Basten, R.J.I. ; Kranenburg, A.A. ; Houtum, van, G.J.J.A.N. / Condition based spare parts supply. Eindhoven : Technische Universiteit Eindhoven, 2012. 28 p. (BETA publicatie : working papers).
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Lin, X, Basten, RJI, Kranenburg, AA & Houtum, van, GJJAN 2012, Condition based spare parts supply. BETA publicatie : working papers, vol. 371, Technische Universiteit Eindhoven, Eindhoven.

Condition based spare parts supply. / Lin, X.; Basten, R.J.I.; Kranenburg, A.A.; Houtum, van, G.J.J.A.N.

Eindhoven : Technische Universiteit Eindhoven, 2012. 28 p. (BETA publicatie : working papers; Vol. 371).

Research output: Book/ReportReportAcademic

TY - BOOK

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AU - Kranenburg, A.A.

AU - Houtum, van, G.J.J.A.N.

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AB - 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.

M3 - Report

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BT - Condition based spare parts supply

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Lin X, Basten RJI, Kranenburg AA, Houtum, van GJJAN. Condition based spare parts supply. Eindhoven: Technische Universiteit Eindhoven, 2012. 28 p. (BETA publicatie : working papers).