Condition based spare parts supply

X. Lin, Robertus Johannes Ida Basten, A.A. Kranenburg, Geert-Jan van Houtum

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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 e cient on average than a standard, state-independent base stock policy. We further propose an e cient and e ective heuristic policy
Original languageEnglish
Place of PublicationEindhoven
PublisherBETA Research Institute
Number of pages28
Publication statusPublished - 2012

Publication series

NameBeta working paper series
PublisherBETA Research Institute
No.371

Keywords

  • METIS-287730
  • IR-79847

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