NDLI: A joint optimal policy of block preventive replacement and spare part inventory

Content Provider	Springer Nature Link
Author	Yang, Ruifeng Kang, Jianshe
Copyright Year	2017
Abstract	Maintenance and spare part should be considered jointly as they are related activities and maintenance generates the demand of spare parts. In this study, a joint optimization policy of block replacement and spare parts inventory for multi-components system is proposed by simulation optimization approach using Monte Carlo simulation. Through analyzing the process of maintenance replacement and spare inventory within replacement interval T, the total expected cost can be derived. The expected cost per unit time is the objective function to optimize the block replacement interval T and maximum inventory level S. Monte Carlo method is used to simulate the operate process and simulation algorithm is presented to derive the approximate optimal solution. Finally, a numerical example is presented to illustrate the effectiveness of the proposed model. Sensitivity analysis and the effect of relevant parameters on the optimal decisions are discussed.
Starting Page	740
Ending Page	746
Page Count	7
File Format	PDF
ISSN	09756809
Journal	International Journal of System Assurance Engineering and Management
Volume Number	8
Issue Number	4
e-ISSN	09764348
Language	English
Publisher	Springer India
Publisher Date	2017-03-03
Publisher Place	New Delhi
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Preventive maintenance Block replacement Spare part inventory Monte Carlo simulation Quality Control, Reliability, Safety and Risk Engineering Economics, Organization, Logistics, Marketing
Content Type	Text
Resource Type	Article
Subject	Strategy and Management Safety, Risk, Reliability and Quality

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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