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Business Administration, Management, and Operations
Demand distributions; inventory; spare parts management; empirical study
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On The Demand Distributions Of Spare Parts, A A. Syntetos, M Z. Babai, Nezih Altay
On The Demand Distributions Of Spare Parts, A A. Syntetos, M Z. Babai, Nezih Altay
Nezih Altay
Spare parts have become ubiquitous in modern societies, and managing their requirements is an important and challenging task with tremendous cost implications for the organisations that are holding relevant inventories. Demand for spare parts arises whenever a component fails or requires replacement, and as such the relevant patterns are different from those associated with ‘typical’ stock keeping units. Such demand patterns are most often intermittent in nature, meaning that demand arrives infrequently and is interspersed by time periods with no demand at all. A number of distributions have been discussed in the literature for representing these patterns, but empirical evidence …