Failure replacement and preventive maintenance spare parts ordering policy |
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| Institution: | 1. Division of Industrial and System Engineering, Taiyuan University of Science & Technology, Taiyuan 030024, China;2. Economics & Management School, Taiyuan University of Science & Technology, Taiyuan 030024, China;3. School of Computer Science and Control Engineering, North University of China, Taiyuan 030051, China;1. School of Management Engineering, Qingdao University of Technology, 266520, China;2. School of Management and Economics, Beijing Institute of Technology, 100081, China;3. School of Energy and Environment, City University of Hong Kong, Kowloon, Hong Kong |
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| Abstract: | This paper addresses inventory policy for spare parts, when demand for the spare parts arises due to regularly scheduled preventive maintenance, as well as random failure of units in service. A stochastic dynamic programming model is used to characterize an ordering policy which addresses both sources of demand in a unified manner. The optimal policy has the form (s(k),S(k)), where k is the number of periods until the next scheduled preventive maintenance operation. The nature of the (s(k),S(k)) policy is characterized through numeric evaluation. The efficiency of the optimal policy is evaluated, relative to a simpler policy which addresses the failure replacement and preventive maintenance demands with separate ordering policies. |
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