Decision support for spare parts acquisition in post product life cycle |
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Authors: | Karl Inderfurth Kampan Mukherjee |
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Institution: | (1) Faculty of Economics and Management, Otto-von-Guericke-University Magdeburg, Postbox 4120, 39016 Magdeburg, Germany;(2) Department of Management Studies, Indian School of Mines, Dhanbad, 826004, Jharkhand, India |
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Abstract: | A major task in service management is the timely and cost efficient provision of spare parts for durable products. This especially
holds good, when the regular production of the product, its components and parts has been discontinued, but customer service
still has to be guaranteed for quite a long time. In such post product life cycle period, three options are available to organize
the spare parts acquisition, namely (i) setting up a single large order within the final lot of regular production, (ii) performing
extra production runs until the end of service and (iii) using remanufacturing to gain spare parts from used products. These
three options are characterized by different cost and flexibility properties. Due to the time-variability and uncertainty
of demands for spare parts and also that of the returns of used products, it is a challenging task to find out the optimal
combination of these three options. In this paper we show how this problem can be modeled and solved by Decision Tree and
stochastic Dynamic Programming procedure. Based on the Dynamic Programming approach a heuristic method is proposed, which
can be employed to come up with a simple solution procedure for real-world spare parts acquisition problems during the post
product life cycle. A numerical example is presented to demonstrate the application of the solution methods described in the
paper. |
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Keywords: | Decision tree Dynamic programming Remanufacturing Spare parts management |
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