Exact and heuristic approaches for joint maintenance and spare parts planning

2019-03-01
In this study, we consider the joint problem of preventive replacement and spare parts inventory planning. We present an exact dynamic programming formulation to minimize the total expected cost over a finite planning horizon. As it is not possible to represent the optimal solution by a well-defined and practical policy, and the dynamic programming recursion is time-consuming to apply, we propose three heuristic approaches that are easy to understand and to implement in practice: (i) Steady-State Approximation, (ii) Stationary Policy and (iii) Myopic Approach. Through computational analyses, we investigate the effects of the model parameters on the performances of the proposed heuristics.
COMPUTERS & INDUSTRIAL ENGINEERING

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Citation Formats
P. Bulbul, Z. P. Bayındır, and İ. S. Bakal, “Exact and heuristic approaches for joint maintenance and spare parts planning,” COMPUTERS & INDUSTRIAL ENGINEERING, pp. 239–250, 2019, Accessed: 00, 2020. [Online]. Available: https://hdl.handle.net/11511/36894.