MULTICRITERIA INVENTORY MODEL FOR SPARE PARTS

Inventory control of spare parts is essential to many organizations. Excess inventory leads to high holding costs and a large commitment of funds. In the other hand stock outs can have a great impact on production or service. The paper proposes a methodology for spare parts inventory control applying multicriteria inventory model. It is based on ranking and classifying the spare parts in groups according to similar attributes. Each group of spares, depending on attributes of the spares that belong to it, joins the appropriate inventory policy model and forecasting demand model.