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The effect of maintenance quality on spare parts inventory for a fleet of assets

Van Horenbeek, A, Scarf, PA, Cavalcante, CAV and Pintelon, L 2013, 'The effect of maintenance quality on spare parts inventory for a fleet of assets' , IEEE Transactions on Reliability, 62 (3) , pp. 596-607.

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This paper considers the effect of fleet size on a joint policy of maintenance and spare parts inventory when spare parts are of varying quality. We consider N identical one-component systems subject to age-based replacement, and with a single echelon periodic review spare-parts policy. The joint policy is optimised with regard to the long-run total cost per unit time, where the cost components include both replacement and inventory related costs. In particular, we are interested in the effect of spare parts quality and the size of the fleet on the variability in the demand for spare parts. Furthermore, the effects of changing lead time, different failure characteristics, and simultaneous deployment of the N systems over a finite horizon on the optimal joint policy are investigated. We develop a stochastic simulation model to investigate these effects. We find that the scale effect varies with the quality of spare parts: the poorer the quality of spare parts, the smaller the scale effect. Our approach allows the value (e.g. cost of poor quality spare parts) in spare parts provisioning for maintenance to be quantified.

Item Type: Article
Uncontrolled Keywords: age-based replacement, asset fleet, failure characteristics, finite horizon, fleet size effect, identical one-component systems, inventory related costs, maintenance policy, maintenance quality, optimal joint policy, single echelon periodic review, spare-part policy, spare part inventory, spare part quality, stochastic simulation model
Themes: Energy
Schools: Schools > Salford Business School
Schools > Salford Business School > Business and Management Research Centre
Journal or Publication Title: IEEE Transactions on Reliability
Publisher: Institute of Electrical and Electronics Engineers (IEEE)
Refereed: Yes
ISSN: 0018-9529
Related URLs:
Funders: Non funded research
Depositing User: Dr Philip Scarf
Date Deposited: 06 Jun 2014 15:49
Last Modified: 08 Nov 2015 23:04

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