A support system for selecting the most suitable spare parts strategy

Abstract

This paper reports an algorithm to create a decision support system for the most suitable spare parts strategy. It is developed based on risk and cost analysis. The algorithm decision support system makers includes information about the possible scenarios in the maintenance field; moreover, this information is useful to support future strategies, helping to decide the number of the spare parts necessary to increase at the maximum process/equipment availability rate. In this task, the algorithm is based on risk analysis considering two main aspects. The first, related to success and failure probabilities is estimated through Poisson distribution; the second one is related to the expected total cost, considering: storage costs, capital tie-up costs, repair costs, purchase order costs (normal and emergency), opportunity costs, and others.