TY - JOUR
T1 - Condition based spare parts supply
AU - Lin, Xiao
AU - Basten, R.J.I.
AU - Kranenburg, A.A.
AU - van Houtum, G.J.J.A.N.
PY - 2017/12/1
Y1 - 2017/12/1
N2 - 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.
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.
KW - Condition monitoring
KW - Inventory
KW - Spare parts
UR - http://www.scopus.com/inward/record.url?scp=85020244304&partnerID=8YFLogxK
U2 - 10.1016/j.ress.2017.05.035
DO - 10.1016/j.ress.2017.05.035
M3 - Article
SN - 0951-8320
VL - 168
SP - 240
EP - 248
JO - Reliability Engineering and System Safety
JF - Reliability Engineering and System Safety
ER -