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As the bar for service excellence keeps rising, especially in the request of shorter lead times, higher service levels, lower costs and better customer service support, the conventional models of spare parts inventory management are increasingly becoming inadequate. This book, therefore, develops three novel models of spare parts inventory management. Model 1 used mathematical analysis to integrate 7 spare parts inventory policies together. Model 2 integrated the same inventory policies of Model 1 using stochastic simulation while Model 3 expanded Model 2 by considering bulk demand and supply using stochastic simulation. 19 sensitivity parameters were varied in the study, where at each instance of variation, the behaviour of the fill rate, as well as backorders (i.e. with regard to its average number, mean response time and maximum queue length) were analysed. On the average a saving of 18.51% demands in comparison with the conventional models was found, which indeed will result in huge cost savings in absolute terms. This book will therefore serve as equipment that enriches the tool box of professionals and pedagogical tool for students on spare parts inventory management.
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About the Author:
Ugochukwu Okonkwo obtained PhD from the Department of Mechanical Engineering, Nnamdi Azikiwe University, Awka, Nigeria. He is currently a Lecturer in the same Department and University. His research interests include stochastic modelling and spare parts inventory. He is COREN registered, Member NSE, IAENG, etc
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- PublisherLAP LAMBERT Academic Publishing
- Publication date2011
- ISBN 10 3845402644
- ISBN 13 9783845402642
- BindingPaperback
- Number of pages252
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Criticality Spare Parts Inventory Management
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Criticality Spare Parts Inventory Management: Modeling and Simulation
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Book Description Taschenbuch. Condition: Neu. This item is printed on demand - it takes 3-4 days longer - Neuware -As the bar for service excellence keeps rising, especially in the request of shorter lead times, higher service levels, lower costs and better customer service support, the conventional models of spare parts inventory management are increasingly becoming inadequate. This book, therefore, develops three novel models of spare parts inventory management. Model 1 used mathematical analysis to integrate 7 spare parts inventory policies together. Model 2 integrated the same inventory policies of Model 1 using stochastic simulation while Model 3 expanded Model 2 by considering bulk demand and supply using stochastic simulation. 19 sensitivity parameters were varied in the study, where at each instance of variation, the behaviour of the fill rate, as well as backorders (i.e. with regard to its average number, mean response time and maximum queue length) were analysed. On the average a saving of 18.51% demands in comparison with the conventional models was found, which indeed will result in huge cost savings in absolute terms. This book will therefore serve as equipment that enriches the tool box of professionals and pedagogical tool for students on spare parts inventory management. 252 pp. Englisch. Seller Inventory # 9783845402642
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Criticality Spare Parts Inventory Management Modeling and Simulation
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Book Description Condition: New. Dieser Artikel ist ein Print on Demand Artikel und wird nach Ihrer Bestellung fuer Sie gedruckt. Autor/Autorin: Okonkwo UgochukwuUgochukwu Okonkwo obtained PhD from the Department of Mechanical Engineering, Nnamdi Azikiwe University, Awka, Nigeria. He is currently a Lecturer in the same Department and University. His research interests includ. Seller Inventory # 5480423
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Criticality Spare Parts Inventory Management : Modeling and Simulation
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Book Description Taschenbuch. Condition: Neu. nach der Bestellung gedruckt Neuware - Printed after ordering - As the bar for service excellence keeps rising, especially in the request of shorter lead times, higher service levels, lower costs and better customer service support, the conventional models of spare parts inventory management are increasingly becoming inadequate. This book, therefore, develops three novel models of spare parts inventory management. Model 1 used mathematical analysis to integrate 7 spare parts inventory policies together. Model 2 integrated the same inventory policies of Model 1 using stochastic simulation while Model 3 expanded Model 2 by considering bulk demand and supply using stochastic simulation. 19 sensitivity parameters were varied in the study, where at each instance of variation, the behaviour of the fill rate, as well as backorders (i.e. with regard to its average number, mean response time and maximum queue length) were analysed. On the average a saving of 18.51% demands in comparison with the conventional models was found, which indeed will result in huge cost savings in absolute terms. This book will therefore serve as equipment that enriches the tool box of professionals and pedagogical tool for students on spare parts inventory management. Seller Inventory # 9783845402642
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