Research on Control Model for Spare Parts Inventory Based on the Optimal Replenishment Cycle

Jin Dong Gao; Yong Zhang; Fang Jun Zhou; Hong Long Mao

doi:10.4028/www.scientific.net/AMM.519-520.1390

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HomeApplied Mechanics and MaterialsApplied Mechanics and Materials Vols. 519-520Research on Control Model for Spare Parts...

Research on Control Model for Spare Parts Inventory Based on the Optimal Replenishment Cycle

Abstract:

Control model for spare parts inventory is established based on the optimal replenishment cycle. The replenishment cycle impact on the spare parts inventory control is analyzed as well as the demand forecasting. First, the optimal replenishment cycle is given by using the method of the lowest cost of inventory. Then according to the demand characteristic of the spare parts, the safety stock can be calculated. Finally on the basis of the demand forecasting, the calculation method of spare parts replenishment quantity is given. A numerical example is presented to verify the validity and practicability of the model.

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Periodical:

Applied Mechanics and Materials (Volumes 519-520)

Pages:

1390-1394

DOI:

https://doi.org/10.4028/www.scientific.net/AMM.519-520.1390

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Online since:

February 2014

Authors:

Jin Dong Gao, Yong Zhang, Fang Jun Zhou, Hong Long Mao

Keywords:

Demand Forecasting, Inventory Model, Replenishment Cycle, Spare Parts Management

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