Sustainable spare parts inventory control using companywide interchangeability technique: perspective to petroleum and fertiliser industries
by Sandeep Sharda; Sanjeev Mishra
World Review of Entrepreneurship, Management and Sustainable Development (WREMSD), Vol. 18, No. 1/2, 2022

Abstract: Industries are using the conventional method for spare parts inventory control. The current practise leads to duplication and overstocking of spare parts on annual basis. This research aims to provide a sustainable approach for spare parts inventory control to nullify overstocking and account for leftover non-recommended spare parts. The framework includes a macro-level review to reflect the maximum level of total spare parts inventory and its associated cost for the existing factory warehouse. A proposed Inventory Control Matrix Model (ICMM) is used for the above analysis and is derived from Boston Consulting Group (BCG). During the project stage, sustainable procurement of spare parts can also be done using Companywide Interchangeability Implementation Model (CIIM). Six hypotheses are derived and tested statistically based on obtained responses of expert's for the suitability of this framework. The approach is also validated with a real case of the industry with indicative sustainable stock levels over conventional policies.

Online publication date: Tue, 08-Feb-2022

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the World Review of Entrepreneurship, Management and Sustainable Development (WREMSD):
Login with your Inderscience username and password:

    Username:        Password:         

Forgotten your password?


Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com