Optimization of the lubricating oil inventory policy applied in a mining company

Date

2021-02-01

Author

Şenses, Sena
Gölbaşı, Onur
Bakal, İsmail Serdar

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This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

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The mining industry should sustain mass and continuous production with an essential contribution of high-capacity machinery. Therefore, spare parts inventory management is vital in ensuring the intended mining production rate as an integral part of maintenance policies. In this paper, a mixed-integer model is presented to solve a multi-item and multi-supplier spare parts inventory model. This model is addressed to a lubricating oil inventory problem in one of the biggest multi-process mining companies in Turkey. The optimisation results show that the company’s current lubricating oil inventory policy can be improved financially by yielding an annual saving up to ₺18,566.

Subject Keywords

Spare parts inventory policy, mixed-integer optimisation programming, mining equipment, operating cost, sensitivity analysis

URI

https://hdl.handle.net/11511/88926

Journal

International Journal of Mining Reclamation and Environment

DOI

https://doi.org/10.1080/17480930.2021.1876820

Collections

Department of Mining Engineering, Article

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Citation Formats

S. Şenses, O. Gölbaşı, and İ. S. Bakal, “Optimization of the lubricating oil inventory policy applied in a mining company,” International Journal of Mining Reclamation and Environment, pp. 1–20, 2021, Accessed: 00, 2021. [Online]. Available: https://hdl.handle.net/11511/88926.