Cost adjustment for single item pooling models using a dynamic failure rate: A calculation for the aircraft industry |
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Authors: | R. Fritzsche |
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Affiliation: | Department of Business Management and Economics, Technical University of Dresden, Dresden, Germany |
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Abstract: | This paper presents an analytical model for cost estimation in a single-item, multi-hub (S-1,S) inventory policy-pooling model for high-value spare parts in the aviation industry. The model extends existing, static pooling models by implementing a dynamic failure rate, using a maintenance free operating period (MFOP) as a measurement technique to increase availability of aircraft components. The gained results through a dynamic failure rate show significant effects for a reduction of total costs of ownership and achieving a better operational stock planning, which is demonstrated in a numerical application. |
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