Multi‐attribute classification method for spare parts inventory management

Abstract

Inventory constraints, costs of lost production, safety and environmental objectives, strategies of maintenance adopted, logistics aspects of spare parts are some of the criteria taken into account, and spare parts classification is thus defined with respect to multiple attributes. In virtue of the large number of the potential operational characteristics to be considered, the decision diagram is integrated with a set of analytic hierarchy process models used to solve the various multi‐attribute decision sub‐problems at the different levels/nodes of the decision tree. An inventory policy matrix is defined to link the different classes of spare parts with the possible inventory management policies so as to identify the “best” control strategy for the spare stocks. The principles of the theory and an actual application in a company operating in the paper industry are reported in the paper.