Joint maintenance and spare-parts inventory models: a review and discussion of practical stock-keeping rules

Scarf, Phil, Syntetos, Aris ORCID: https://orcid.org/0000-0003-4639-0756 and Teunter, Ruud 2024. Joint maintenance and spare-parts inventory models: a review and discussion of practical stock-keeping rules. IMA Journal of Management Mathematics 35 (1) , pp. 83-109. 10.1093/imaman/dpad020

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Abstract

It is natural to coordinate spare-parts inventory planning and maintenance. However, work in the former area often neglects part utilisation, and work in the latter the fact that effective execution of maintenance schedules is conditioned to the availability of the necessary spare parts. This paper is a call for further integration between the two areas, and to that end we review the literature on mathematical modelling and analysis of inventory-maintenance-planning. We are not the first to address this issue (though we take a fresh perspective to the problem), but we are the first to complement such review with a discussion of simple stock keeping rules that may be used effectively in practice. We identify a growing gap between modelling and application, between theory and practice, that justifies the presentation of these simple stock keeping rules for the joint planning of inventory and maintenance. Thus, our work should be of interest not only to researchers who are looking for promising avenues for future research, but also to practitioners who are seeking to improve inventory-maintenance operations.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Business (Including Economics)
Publisher:	Oxford University Press
ISSN:	1471-678X
Date of First Compliant Deposit:	24 October 2023
Date of Acceptance:	28 September 2023
Last Modified:	16 Jan 2024 16:00
URI:	https://orca.cardiff.ac.uk/id/eprint/163143

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