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Copy of OPTIMIZATION MODELS FOR CRITICAL SPARE PARTS INVENTORIES

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by

Frederic Harvey

on 21 November 2013

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Transcript of Copy of OPTIMIZATION MODELS FOR CRITICAL SPARE PARTS INVENTORIES

OPTIMIZATION MODELS FOR CRITICAL SPARE PARTS INVENTORIES
MARKOV PROCESS
DEFINITIONS
INSTANTANEOUS RELIABILITY:
Probability that a spare part is available at any given moment in time
INTERVAL RELIABILITY:
Probability of not running out of stock over a period of time (one year)
COST:
All cost associated with purchasing, stocking spares and running out of spare part (where applicable)
AVAILABILITY:
Percentage of non-downtime of a system, considering only the lack of spare parts as cause

Frederic Harvey
MIME 588 - MINE RELIABILITY

NON-REPAIRABLE
REPAIRABLE
STUDY CASE 1: TRANSFORMER
Normal distribution
INTERVAL RELIABILITY
Poisson distribution
COST OPTIMIZATION
STUDY CASE 2:
FLEET OF 39 HAUL TRUCKS
CALCULATION
=6420 HOURS
MINIMIZATION PROBLEM FOR OPTIMAL STOCK SIZE
REPAIRABLE
NON-REPAIRABLE

 INCREASE RELIABILITY
 DIMINISH COSTLY SHUTDOWN








LACK OF SPARE PARTS
 LOWER AVAILABILITY of equipment
 GROSS PENALTIES
 INCREASE OPERATIONAL RISK

WHY?
INSTANTANEOUS RELIABILITY
INTERVAL RELIABILITY
STUDY CASE 1:
CONCLUSION
STUDY CASE 2
CONCLUSION
REFERENCE
Full transcript