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Therefore, maintenance programs should be designed to reduce both maintenance and inventory related costs.
Rezg et al. (2004) proposed an integrated method for preventive maintenance and inventory control of a production line, composed of n machines subject to failures without intermediate buffers.
The proposed approach was tested in a real manufacturing scenario in automotive lighting equipment industry and proved that maintenance and inventory costs can be significantly reduced by transforming the company's maintenance strategy from time-based to Condition Based Maintenance (CBM).
Despite the recent advances in technology and information systems and the variety of methods for prognosis, decision models for joint maintenance and inventory optimization on the basis of real-time prognostic information have not been explored.
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On the other hand, it includes a dynamic maintenance system i.e. "customer-driven" maintenance oriented strategy (Adeyeri and Kareem 2012) and an e-maintenance system i.e. "an electronic-oriented diagnosis, prognosis, maintenance planning and inventory" strategy (Muller et al. 2008).
On the other hand, by increasing process reliability and reducing lot-size, the company has to reduce its total cost such as maintenance costs and inventory holding cost in order to escape from the limit of losses.
Wiper: New engine-room personnel start as wipers and perform a wide range of functions, including basic maintenance, cleaning and inventory.
The new FPR centrifugal pump line from Fristram has been designed to save processors time and money through easy maintenance and reduced inventory.
In practice, maintenance and spare parts inventory policies are treated separately or sequentially.
We propose a proactive event-driven decision model for joint predictive maintenance and spare parts inventory optimization which addresses the Decide phase of the "Detect- Predict- Decide- Act" model and can be embedded to an Event Driven Architecture (EDA) for real-time processing in the frame of e-maintenance concept.
Government spending and inventory maintenance, for example, are unlikely to be as supportive as they were in the recent past.
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