Critical challenges of inventory management in service parts supply: A Delphi study

Boone, Christopher A.; Craighead, Christopher W.; Hanna, Joe B.

doi:10.1007/s12063-008-0002-2

Cited by 30 publications

(13 citation statements)

References 39 publications

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“…Our findings do not contradict the findings of the empirical studies discussed above. Regarding the inaccuracy the of best-fit forecast module, which is an important challenge in inventory management, our findings confirm those of Boone et al [42]; however, important differences regarding other aspects of the study are noted. According to Robertson and Ulrich [43], practitioners may be more concerned with a performance monitor management function because monitoring each planning parameter helps planners initiate quick responses to fulfill spare parts requirements in a timely manner.…”

Section: Resultssupporting

confidence: 86%

“…Our data suggest that inventory optimization is the most important function of SPP software, as the significance of the global weight of the demand forecasting function may be subjective. Another possible reason is that consultants want their software product to handle current resources well because demand forecasting is not guaranteed to be the best fit for the future demand forecast, contrary to the findings of Boone et al [42]. According to the results presented in Table 8, the weight of each criterion in the complete evaluation criteria hierarchy results in the highest ranking for software vendor A 1 , based on the responses from the consultants.…”

Section: Resultsmentioning

confidence: 89%

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Application of the Analytic Hierarchy Process and Grey Relational Analysis for Vendor Selection of Spare Parts Planning Software

Weng

Chen

2019

Symmetry

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The success of after-sales services fundamentally depends on the possibility of symmetry balancing needs, supply and customer satisfaction. Spare parts planning (SPP) software selection is an investment in balancing the symmetry of inventory control, which directly affects the success of after-sales services. This paper presents the analytic hierarchy process (AHP) and grey relational analysis (GRA) as potential multi-criteria decision making (MCDM) methods for software selection. The application of these methods can be decreased by decision-makers’ subjectivity, which leads to consistency and symmetry in the weight values of the criteria. The criteria were evaluated solely based on system functions by business consultants with respect to the modularity of the software to meet various business requirements, distinguishing this paper from other papers that focus on the financial aspects of selecting software. The results suggest that the AHP and GRA are feasible methods for software selection that effectively integrate consultants’ experience to identify the suitable software and the most important function for adoption in real businesses. The findings of our data suggest that inventory optimization is the most important function of SPP software, as the demand forecasting function may be subjective. In conclusion, this paper represents a bridge between practitioners and researchers.

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Section: Resultssupporting

confidence: 86%

Section: Resultsmentioning

confidence: 89%

Application of the Analytic Hierarchy Process and Grey Relational Analysis for Vendor Selection of Spare Parts Planning Software

Weng

Chen

2019

Symmetry

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“…Thirdly, along with the life cycle of products the part specificity generates a risk of obsolescence (e.g., Cohen et al, 2006;Boone et al, 2008;Rego & Mesquita, 2011). Because most spare parts have specialized uses, they remain in inventory until their installed equipment require it (Kennedy et al, 2002).…”

Section: Spare Part Characteristicsmentioning

confidence: 99%

“…When the products for which the parts were designed are discontinued, clients can still use the product and generate demand for spare parts when asking for a repair. Heavy equipment may continue to generate a demand for spare parts even decades after the end of production (Boone et al, 2008). However, because the installed machines will be taken out of operation over time and no new machines are sold anymore, the risk of obsolescence for the parts increases (Kennedy et al, 2002;Teunter et al, 2011).…”

Section: Spare Part Characteristicsmentioning

confidence: 99%

Forecasting spare part demand with installed base information: A review

Auweraer

Boute

Syntetos

2019

International Journal of Forecasting

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The classical spare part demand forecasting literature studies methods to forecast intermittent demand. The majority of these methods do not consider the underlying demand generating factors. Demand for spare parts originates from the part replacements of the installed base of machines, which are either done preventively or upon breakdown of the part. This information from service operations, which we refer to as installed base information, can be used to forecast future spare part demand. In this paper we review the literature on the use of such installed base information for spare part demand forecasting to asses (1) what type of installed base information can be useful; (2) how this information can be used to derive forecasts; (3) what is the value of using installed base information to improve forecasting; and (4) what are the limits of the currently existing methods. The latter serve as motivation for future research.

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“…It coincides to the previous study written by several researchers who argue that capital deficits are a major challenge to the entrepreneur in obtaining real-time information. As claimed by [9], and [2], real-time information and technology system have a strong relationship where it can generate accurate data and on-time information. However for SMEs, it difficult for them to invest in technology development due to limited revenue.…”

Section: Lack Of Capitalmentioning

confidence: 99%

The Performance of Challenges Faced by SME in Managing Real-Time Information in the Inventory Management Process

Sapry¹,

Yusof²

2019

IJITEE

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Managing real-time information is an important task for any organization regardless of the size. This is because real-time information is used as the basis for an organization to make decisions that will affect the business if the information obtained is inaccurate, slow and outdated. For SMEs, this is a great challenge as it faces capital constraints and outdated technological applications. Thus, the purpose of this study to examine the challenges faced by SMEs in managing the real-time information to their inventory management and the impact on the overall business performance. A qualitative method was adopted where the in-depth interview was using to extract the information. Based on the saturation principle, the respondent was selected specifically from the SMEs in food manufacturer based in Malacca Halal Hub area. The finding of this study has supported the previous study on the challenges and issue of real-time information facing by the SMEs. A notable finding in this research is that SMEs is employing a skilled worker to manage the absence of an information system to manage real-time information and still capable to generate a profit from the business. This study extended the previous finding and offer an opportunity for further exploration in this area.

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Critical challenges of inventory management in service parts supply: A Delphi study

Cited by 30 publications

References 39 publications

Application of the Analytic Hierarchy Process and Grey Relational Analysis for Vendor Selection of Spare Parts Planning Software

Application of the Analytic Hierarchy Process and Grey Relational Analysis for Vendor Selection of Spare Parts Planning Software

Forecasting spare part demand with installed base information: A review

The Performance of Challenges Faced by SME in Managing Real-Time Information in the Inventory Management Process

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