A review of simulation modelling approaches in aviation spare parts inventory optimisation

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dc.contributor.authorbin Mohammud, Zaki
dc.contributor.authorFan, Ip-Shing
dc.contributor.authorAvdelidis, Nicolas P.
dc.date.accessioned2024-09-05T10:30:17Z
dc.date.available2024-09-05T10:30:17Z
dc.date.freetoread2024-09-05
dc.date.issued2024-06-07
dc.date.pubOnline2024-09-05
dc.description.abstractAviation spare parts are expensive and are being kept as a buffer for unscheduled and scheduled maintenance activities. Apart from cash flow being locked in the inventory, spare parts for aircraft or helicopters are also critical in the continuous operations of air assets. In addition, the holding cost is roughly 20 per cent of the total inventory value. Holding costs are costs such as insurance, utilities and manpower. Minimising the total inventory value could be done by adopting a lower inventory count through various methods, such as the provision of spare parts, which can be done either by forecasting the failure of components or by using new maintenance methodologies, such as predictive maintenance. The methods have been used widely in the aviation industry for a long time. The upward trend of papers published from 1963 to 2023 shows that aviation spare parts optimisation is still being discussed. This paper reviews the simulation modelling approaches to optimise aviation spare inventory. 221 papers were reviewed from Scopus and Web of Science (WoS) literature databases, and 17 papers from 1982 to 2023 were chosen based on the simulation modelling approach, such as System Dynamics and Discrete-Event Simulation. The papers were classified according to simulation modelling techniques, spare parts and operations classification, and challenges and opportunities.
dc.description.conferencename12th International Conference on Through-life Engineering Services – TESConf2024
dc.identifier.citationbin Mohammud Z, Fan I-S, Avdelidis NP. (2024) A review of simulation modelling approaches in aviation spare parts inventory optimisation. In: 12th International Conference on Through-life Engineering Services – TESConf2024, 6-7 June 2024, Cranfield, UK
dc.identifier.doi10.57996/cran.ceres-2618
dc.identifier.urihttps://doi.org/10.57996/cran.ceres-2618
dc.identifier.urihttps://dspace.lib.cranfield.ac.uk/handle/1826/22893
dc.language.isoen
dc.publisherCranfield University
dc.publisher.urihttps://dspace.lib.cranfield.ac.uk/handle/1826/22893
dc.rightsAttribution 4.0 Internationalen
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/
dc.subjectsimulation modelling approach
dc.subjectaviation spare parts
dc.subjectinventory management
dc.subjectreview paper
dc.titleA review of simulation modelling approaches in aviation spare parts inventory optimisation
dc.typeConference paper
dcterms.coverageCranfield, UK
dcterms.dateAccepted2024-03-25
dcterms.temporal.endDate7-Jun-2024
dcterms.temporal.startDate06-Jun-2024

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12th International Conference on Through-life Engineering Services 2024