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Operations Research, Systems Engineering and Industrial Engineering Commons

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University of Tennessee, Knoxville

1972

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The Development Of An Inventory Control Procedure For Low Usage Maintenance Spare Parts, Asa L. Whitaker Jr. Aug 1972

The Development Of An Inventory Control Procedure For Low Usage Maintenance Spare Parts, Asa L. Whitaker Jr.

Masters Theses

This analysis was made in an attempt to establish an inventory control procedure which would be applicable for low wage maintenance spare parts. Spare parts inventories are unique in industry since they are maintained as insurance stock to provide protection against the inability to procure a part readily when it is needed for a repair.ยท Due to this characteristic, the demand for these items is low and unpredictable; therefore, classical inventory models are not applicable. More sophisticated approaches have been developed to take these characteristics into account; however, these approaches require assumptions to be made which may not hold true ...