Proceedings of ICLT 2022
Spare Parts Inventory Management: A Literature Review of Mathematical Model and Further Research Direction
Chukree Daesa; Dollaya Buakum; Nikorn sirivongpaisal; Phattara kurpprom; Pongtep Mekcharoenwiwatthana
Department of Industrial and Manufacturing Engineering, Faculty of Engineering, Prince of Songkla University, Songkhla, Thailand; Department of Industrial and Manufacturing Engineering, Faculty of Engineering, Prince of Songkla University, Songkhla, Thailand; Department of Industrial and Manufacturing Engineering, Faculty of Engineering, Prince of Songkla University, Songkhla, Thailand; Department of Industrial and Manufacturing Engineering, Faculty of Engineering, Prince of Songkla University, Songkhla, Thailand; Department of Industrial and Manufacturing Engineering, Faculty of Engineering, Prince of Songkla University, Songkhla, Thailand
International Conference on Logistics & Transport 2022, Krabi, Thailand, pp. 129-133
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Abstract
This paper aim to analyse mathematical models in a spare parts inventory management problem for supporting future research direction that have the potential for significant future contribution in the field. The result showed that studies in a past decade adopt stochastic settings in mathematical model according to uncertainty demand during lead time. The model in reviewed literature mostly focused on minimizing inventory cost. However, there were some differences in details because a repair network may consist of multiple echelon levels. Although the manager may consider addressing a spare parts inventory management problem in a single echelon system. Smart spare parts inventory management requires synchronizing each echelon level together. Subsequently, various solution methods were proposed to solving spare parts inventory management problem. Noteworthy, heuristic and meta-heuristic methods were most widely used to handle the complexity of a spare parts inventory problem due to uncertainty of demand during lead time. Hence, a robust solution method should be developed further. In addition, demand distribution during time between failure should be recognized to handling the uncertainty and unpredictability demand. Moreover, a framework for smart supply chain of spare parts collaboration was presented herein.
Keywords
spare parts; inventory management; literature review; mathematical model; smart supply chain
Citation
Chukree Daesa; Dollaya Buakum; Nikorn sirivongpaisal; Phattara kurpprom; Pongtep Mekcharoenwiwatthana (2022). Spare Parts Inventory Management: A Literature Review of Mathematical Model and Further Research Direction. Proceedings of the International Conference on Logistics & Transport (ICLT 2022), Krabi, Thailand, pp. 129-133.