Spare Parts Inventory Optimization Methods

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F46747885%3A24220%2F17%3A00004347" target="_blank" >RIV/46747885:24220/17:00004347 - isvavai.cz</a>

Alternative codes found

RIV/46747885:24310/17:00004347

Result on the web

<a href="http://www.lef-tul.cz" target="_blank" >http://www.lef-tul.cz</a>

DOI - Digital Object Identifier

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Result language

angličtina

Original language name

Spare Parts Inventory Optimization Methods

Original language description

The contribution is focused on optimization of spare parts inventory in organizations. The goal of the long term research of the authors is to reduce the costs related to keep spare parts in the stock. The literature research explains the concept of inventory management, costs and risks associated with that, inventory management models, differentiation of inventory, determination managing inventory levels and the importance of optimizing spare parts inventory for a company operating in a highly competitive environment. The main chapter describes in detail the concept of spare parts inventory management in the selected company with a focus on established processes, the inventory level, parts availability and costs associated with that. As a result of the pilot survey in organizations the pros and cons of the current spare parts inventory management are summarized, so as the recommendations for optimization with the selected methods. Main ideas for stock management and logistics in general for all spare parts inventories are to detect the failure modes that occur on the products and their periodicity and conflict them with bill of material, conflict them with the lead times of the spare parts, calculate the stock reposition point regarding each part and find the optimal method to set the minimum stock limit and re-order point of spare parts.

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

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OECD FORD branch

50204 - Business and management

Project

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Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2017

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

PROCEEDINGS OF THE 13TH INTERNATIONAL CONFERENCE: LIBEREC ECONOMIC FORUM 2017

ISBN

978-80-7494-349-2

ISSN

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e-ISSN

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Number of pages

10

Pages from-to

257-266

Publisher name

Technická univerzita v Liberci

Place of publication

Liberec

Event location

Liberec

Event date

Jan 1, 2017

Type of event by nationality

WRD - Celosvětová akce

UT code for WoS article

000426486500029