Application of a dynamic inventory policy to spare parts subject to age replacement

2021 ◽  
Vol 6 (1) ◽  
pp. 79
Author(s):  
Timothy S. Vaughan
Keyword(s):  
Spare Parts ◽  
Inventory Policy ◽  
Age Replacement

scholarly journals An Optimal Order Quantity Of Spare Parts To Minimize Total Inventory Cost Using Periodic Review Approach (R,s,s) Method In PT. XYZ Bandung

2017 ◽  
Vol 1 (02) ◽  
Author(s):  
Feviana Betsi Purba ◽  
Luciana Andrawina ◽  
Murni Dwi Astuti
Keyword(s):  
Spare Part ◽  
Spare Parts ◽  
Optimal Order ◽  
Periodic Review ◽  
Order Quantity ◽  
Inventory Cost ◽  
Inventory Policy ◽  
Total Saving ◽  
Manufacturing Company ◽  
Total Inventory

The availability of spare parts is very crucial thing for manufacturing company in order to support the continuity of production activities. PT XYZ is a manufacturing company which produces thread into fabric. In this case, inventory control of spare part is not properly managed. Inventory position of spare parts in warehouse is always more than inventory policy of the company itself or called overstock which causes total inventory cost is always high. Company only consider on the order fulfillment of spare parts to prevent downtime on the machine that increase performance of production. Hence, order quantity of spare parts is always excessive or not optimal. In this research, global inventory policy conducted in order to minimize total inventory cost is periodic review approach (R, s, S) method. This inventory policy will be calculated using power approximation and obtained total saving cost of holding cost by 31 % while total saving cost of order cost decreased by 7 %. Overall, total inventory cost minimized by 7 % or equal to Rp138.902.742.

scholarly journals AN OPTIMAL ORDER QUANTITY OF SPARE PARTS TO MINIMIZE TOTAL INVENTORY COST USING PERIODIC REVIEW APPROACH (R,s,S) METHOD IN PT XYZ BANDUNG

2018 ◽  
Vol 2 (01) ◽  
pp. 60-66
Author(s):  
Feviana Betsi Purba ◽  
Luciana Andrawina ◽  
Murni Dwi Astuti
Keyword(s):  
Spare Parts ◽  
Optimal Order ◽  
Periodic Review ◽  
Order Quantity ◽  
Inventory Cost ◽  
Inventory Policy ◽  
Total Saving ◽  
Power Approximation ◽  
Manufacturing Company ◽  
Total Inventory

The availability of spare parts is very crucial thing for manufacturing company in order to support the continuity of production activities. PT XYZ is a manufacturing company which produces thread into fabric. In this case, inventory control of spare part is not properly managed. Inventory position of spare parts in warehouse is always more than inventory policy of the company itself or called overstock which causes total inventory cost is always high. Company only consider on the order fulfillment of spare parts to prevent downtime on the machine that increase performance of production. Hence, order quantity of spare parts is always excessive or not optimal. In this research, global inventory policy conducted in order to minimize total inventory cost is periodic review approach (R, s, S) method. This inventory policy will be calculated using power approximation and obtained total saving cost of holding cost by 31 % while total saving cost of order cost decreased by 7 %. Overall, total inventory cost minimized by 7 % or equal to Rp138.902.742.   Keywords—Inventory, Overstock, Spare Parts, Periodic Review, Power Approximation

Research on optimization of spare parts inventory policy considering maintenance priority

2018 ◽  
Vol 9 (6) ◽  
pp. 1336-1345 ◽  
Author(s):  
Yu-kun Chen ◽  
Qi Gao ◽  
Xiao-bo Su ◽  
Shun Fang ◽  
Chi-ming Guo
Keyword(s):  
Spare Parts ◽  
Inventory Policy ◽  
Spare Parts Inventory

scholarly journals KEBIJAKAN PERSEDIAAN SUKU CADANG DI PT ABC MENGGUNAKAN METODE RCS (RELIABILITY CENTERED SPARES)

2018 ◽  
Vol 2 (1) ◽  
pp. 90-102
Author(s):  
Fransiskus Tatas Dwi Atmaji ◽  
Anak Agung Ngurah
Keyword(s):  
Heat Exchanger ◽  
Pressure Gauge ◽  
Spare Part ◽  
Spare Parts ◽  
Mechanical Seal ◽  
Inventory Policy ◽  
Machine Reliability ◽  
Spare Parts Inventory ◽  
Critical Components ◽  
One Year

Based on data from the production and maintenance department, the highest downtime happen in JDK machine at ABC company. High downtime caused by spare parts lacking or replacement parts when the machine damaged, it cause the engine stop longer. This study analyze and determine spare part inventory the policy, especially critical components in JDK machine. Reliability Centered Spare (RCS) method used in this study, this method essentially determines the optimal spare parts policy for a certain period. The result of research with RCS method shows that the spare parts inventory policy for all critical components of JDK machine in one year ahead by storing or stocking the following amount: packing valve: 469 pieces; teflon: 134 pieces; bearing pump: 10 pieces; mechanical seal: 26 pieces; motor pump: 10 pieces; packing pump: 141 pieces; motor driving reel: 9 pieces; bearing driving reel: 45 pieces; mechanical seal driving reel: 163 pieces; packing heat exchanger: 70 pieces; site glass: 29 pieces; and pressure gauge: 7 pieces.

Analysis of Spare Parts Demand Forecasting Considering Preventive Maintenance

2013 ◽  
Vol 401-403 ◽  
pp. 2199-2204 ◽  
Author(s):  
Hao Liu ◽  
Jian Min Zhao ◽  
Jin Song Zhao ◽  
Hong Zhi Teng
Keyword(s):  
Weibull Distribution ◽  
Preventive Maintenance ◽  
Empirical Formula ◽  
Demand Forecasting ◽  
Spare Parts ◽  
Replacement Policy ◽  
Maintenance Policy ◽  
Reliability Engineering ◽  
Demand Rate ◽  
Age Replacement

Considering the importance of PM (preventive maintenance) in reliability engineering, the formula is given to calculate spare demand rate for the policies of age replacement policy, minimal maintenance policy and block replacement policy. And average spare demand rate was analyzed for age replacement policy, and an approximate empirical formula with PM interval and parameters of Weibull distribution was given compared to CM(corrective maintenance) and PM. Otherwise, compared to minimal maintenance policy and block replacement policy, the demand rate was analyzed in order to better forecast the spare parts demand.

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