Optimization models for critical spare parts inventories-a reliability approach

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dc.contributor.authorLouit, D.
dc.contributor.authorPascual, R.
dc.contributor.authorBanjevic, D.
dc.contributor.authorJardine, A. K. S.
dc.date.accessioned2024-01-10T12:07:16Z
dc.date.available2024-01-10T12:07:16Z
dc.date.issued2011
dc.description.abstractIn industries characterized by heavy utilization of equipment and machinery, such as mining, oil & gas, utilities, transportation, adequate stockholding of critical spare parts becomes essential. Insufficient stocks affect overall performance of physical assets, as lack of spares may result in gross penalties, lower availability or increased operational risks. On the other hand, oversized inventories lead to inefficient use of capital and may imply severe expenditures. This paper presents various approaches for the determination of the optimal stock size, when the stock is composed of (i) non-repairable or (ii) repairable parts. The paper is focused on spares for relatively expensive, highly reliable components, rather than on fast-moving spare parts. Optimization criteria considered are minimization of costs, maximization of equipment availability, and the achievement of a desired stock reliability (probability that a spare part request will not be rejected because of the lack of spares in stock). For stock reliability, instantaneous and interval reliability calculations are considered. In addition, models directed to the estimation of the remaining life of a given stock of spare parts (at a certain stock reliability level) are introduced. The paper describes several models subject to practical industrial application, and presents case studies from utilities and mining to illustrate their use. Journal of the Operational Research Society (2011) 62, 992-1004. doi: 10.1057/jors.2010.49 Published online 2 June 2010
dc.description.funderNatural Sciences and Engineering Research Council (NSERC) of Canada
dc.description.funderMaterials and Manufacturing Ontario (MMO) of Canada
dc.description.funderCBM Consortium
dc.fechaingreso.objetodigital2024-04-25
dc.format.extent13 páginas
dc.fuente.origenWOS
dc.identifier.doi10.1057/jors.2010.49
dc.identifier.eissn1476-9360
dc.identifier.issn0160-5682
dc.identifier.urihttps://doi.org/10.1057/jors.2010.49
dc.identifier.urihttps://repositorio.uc.cl/handle/11534/76264
dc.identifier.wosidWOS:000290179400006
dc.information.autorucIngeniería;Louit D ;S/I;3890
dc.information.autorucIngeniería;Pascual R ;S/I;1007557
dc.issue.numero6
dc.language.isoen
dc.nota.accesocontenido parcial
dc.pagina.final1004
dc.pagina.inicio992
dc.publisherTAYLOR & FRANCIS LTD
dc.revistaJOURNAL OF THE OPERATIONAL RESEARCH SOCIETY
dc.rightsacceso restringido
dc.subjectinventory
dc.subjectspare parts
dc.subjectstochastic processes
dc.subjectnon-repairable parts
dc.subjectrepairable parts
dc.subjectBAYESIAN-APPROACH
dc.subjectREPAIR
dc.subjectSYSTEMS
dc.subject.ods12 Responsible Consumption and Production
dc.subject.odspa12 Producción y consumo responsable
dc.titleOptimization models for critical spare parts inventories-a reliability approach
dc.typeartículo
dc.volumen62
sipa.codpersvinculados3890
sipa.codpersvinculados1007557
sipa.indexWOS
sipa.indexScopus
sipa.trazabilidadCarga SIPA;09-01-2024
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