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Reliability Analysis for Inventory Management for Repair Parts Based on Imperfect Data

Author

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  • Si-Il Sung

    (Kyonggi University)

Abstract

This chapter focuses on the appropriate inventory management of repair parts to increase the operational availability of production equipment. In practice, many small and medium-sized companies in South Korea face limitations in establishing an appropriate database for the maintenance. To address this issue, this chapter introduces a simple approach that utilizes purchase history records based on Monte-Carlo simulation. By using purchase history records, it is possible to generate a much larger amount of failure information than what is available from imperfect maintenance records, which can then be used to help the inventory management.

Suggested Citation

  • Si-Il Sung, 2025. "Reliability Analysis for Inventory Management for Repair Parts Based on Imperfect Data," Springer Series in Reliability Engineering,, Springer.
    • Handle: RePEc:spr:ssrchp:978-3-031-72636-1_1
    DOI: 10.1007/978-3-031-72636-1_1
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