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Spare Parts

Management

A Comparison Between (s, S) Policy with Delayed Ordering and

Policy Based on Binomial Distribution and Total Cost

Daria Battini, Alessandro Persona, Fabio Sgarbossa
Department of Management and Engineering, University of Padova, Vicenza
Flavio Beretta
ABB SpA, Sesto San Giovanni, Milano
Marco Pepori
Animp, Milano

1. Introduction & purpose analyzed using a sensitivity analysis and fndings
are discussed. Finally in the last Section 5, some
of research considerations about the two models are reported
and further researches are suggested.
In the recent years, spare parts management has
been widely studied and several researches have
been carried out in order to defne better policies to 2. State of the art in the spare
manage inventory of this kind of products. parts management
It is well known that spare parts are particular
kind of items, characterized by high unit value, Spare parts are very critical products for
high level of technology, specialized uses. Their companies to be managed, due to their particular
incorrect inventory management could bring characteristics: high unit value, high obsolescence
to high holding cost and high stock-out cost. degree, high technological content, non-regular
Moreover the demand patterns of demand. Moreover spare parts are
spare parts are diffcult to predict due The purpose of this linked to the effciency of production
to their intermittent profle. This aspect proposed research systems, so the availability of this kind
complicates the effcient management is to analyze two of items infuences in a relevant manner
and control of the inventory system, the Overall Equipment Effciency of
which requires an acceptable balance different policies and industrial systems.
between inventory costs and stock- their applications to As a consequence, more attention has
outs. several scenarios, been paid to better manage the spare
The purpose of this proposed research varying the main parts, mainly following two different,
is to analyze two different policies and variables, like but linked to each other, strategies:
their applications to several scenarios, the frst one consists to increase the
varying the main variables, like costs, costs, lifetime accuracy of their demand forecasting
lifetime parameters, number of parameters, number models while the second one regards
requirements and others. of requirements and the improvement of the spare parts
This paper is organized as follows: others inventory management.
Section 2 summarizes the most About the frst strategy, several
relevant scientifc contributions developed in the scientifc contributions have been developed
recent years. Then in Section 3 the methodology regarding the introduction of new forecasting
at the base of this work is presented jointly with the models according to the four categories of spare
two compared models for the spare parts inventory parts demand patterns (Ghobbar, 2002).
management. In Section 4, several scenarios are In Persona et al. (2006), a deep analysis and

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