Managing spare parts inventories is a challenging task and can benefit considerably from any information on the failure rate of the parts. It has often been considered in the stock control literature that parts' failures are only random, caused by external events which results in the assumption of constant failure rate and therefore the consideration of the Poisson process to represent spare pa...

We study spare parts inventory control for an aircraft component repair shop. Inspection of a defective component reveals which spare parts are needed to repair it, and in what quantity. Spare part shortages delay repairs, while aircraft operators demand short component repair times. Current spare parts inventory optimization methods cannot guarantee the performance on the component level, whic...

http://www.aic.gov.au Adam Graycar Director In 2000, 139,000 motor vehicles were stolen in Australia. About 80 per cent of these were recovered soon after the theft. It is estimated that about threequarters of motor vehicle thefts are opportunistic, stolen for joy-riding or transport, and one-quarter are stolen for profit. Many that are stolen for profit end up as spare parts. Very little is kn...

Demand and inventory management for spare parts are different than for components used in assembly of finished products, in reason of lumpy demand, larger variety and risk of stock obsolescence. The paper deals with three aspects: 1) a description of the elements of complexity peculiar to the spare parts supply chain; 2) a framework and a literature review about spare parts demand and inventory...