Condition based spare parts supply

Xiao Lin; R.J.I. Basten; A.A. Kranenburg; G.J.J.A.N. van Houtum

doi:10.1016/j.ress.2017.05.035

Condition based spare parts supply

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

Operations Planning Accounting & Control

Research output: Contribution to journal › Article › Academic › peer-review

39 Citations (Scopus)

436 Downloads (Pure)

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
Pages (from-to)	240-248
Number of pages	9
Journal	Reliability Engineering and System Safety
Volume	168
DOIs	https://doi.org/10.1016/j.ress.2017.05.035
Publication status	Published - 1 Dec 2017

Keywords

Condition monitoring
Inventory
Spare parts

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10.1016/j.ress.2017.05.035

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Cite this

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title = "Condition based spare parts supply",

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.",

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year = "2017",

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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 - https://www.scopus.com/pages/publications/85020244304

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 -

Condition based spare parts supply

Abstract

Keywords

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