Specifics of Spare Parts Replenishment Parameters Definition for Processing Plant

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MAGAZINE №3 (80) June 2017


CATEGORY  Industrial companies’ corporate logistics Inventory management Optimization and mathematical modelling 


Modern methods of inventory management had been formed, implemented and fine-tuned within industries that work directly to consumer, such as retail and FMCG. Those industries are innovation leaders in the sphere of supply chain management. Industrial large-equipment companies, especially in natural resources and processing industries as usual are catching-up and adopting practices of leading industries. A key element of inventory management process is method of definition of replenishment parameters such as safety stock, reorder point, lot size. Applying those proved methods, which are well known within retail companies, requires special customization driven by specifics of industrial facilities. The article describes a method that has been developed for spare parts replenishment of equipment maintenance of a processing plant. Implementation of the method allowed to reduce stock level by 22% 

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