Authors
AA Syntetos, MZ Babai, N Altay
Publication date
2012/4/15
Journal
International Journal of Production Research
Volume
50
Issue
8
Pages
2101-2117
Publisher
Taylor & Francis Group
Description
Spare parts have become ubiquitous in modern societies, and managing their requirements is an important and challenging task with tremendous cost implications for the organisations that are holding relevant inventories. Demand for spare parts arises whenever a component fails or requires replacement, and as such the relevant patterns are different from those associated with ‘typical’ stock keeping units. Such demand patterns are most often intermittent in nature, meaning that demand arrives infrequently and is interspersed by time periods with no demand at all. A number of distributions have been discussed in the literature for representing these patterns, but empirical evidence is lacking. In this paper, we address the issue of demand distributional assumptions for spare-parts management, conducting a detailed empirical investigation on the goodness-of-fit of various distributions and their stock-control …
Total citations
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Scholar articles
AA Syntetos, MZ Babai, N Altay - International Journal of Production Research, 2012