Optimizing Spare Parts Inventory in Shipping Industry

Abstract—The paper aims at proposing a criterion to optimize the initial level of spare parts inventory for a ship. Adequate stockholding of critical spare parts becomes essential in naval industry characterized by heavy utilization of equipment and machinery and by really specific operating conditions. Generic approaches are inadequate and specific ones result in analysis too shallow. An application for estimating the initial level of spare parts for a tanker is presented. Keywords-Inventory, spare parts, shared items, shipping industry. I.