Condition based spare parts supply

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

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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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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.