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Forecasting spare part demand with installed base information: A review
Van der Auweraer, Sarah Boute, Robert N Syntetos, Aris A
Van der Auweraer, Sarah
Boute, Robert N
Syntetos, Aris A
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Publication Type
Journal article with impact factor
Editor
Supervisor
Publication Year
2019-01
Journal
International Journal of Forecasting
Book
Publication Volume
35
Publication Issue
1
Publication Begin page
181
Publication End page
196
Publication Number of pages
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Abstract
The classical spare part demand forecasting literature studies methods for forecasting intermittent demand. However, the majority of these methods do not consider the underlying demand-generating factors. The demand for spare parts originates from the replacement of parts in the installed base of machines, either 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 the future demand for spare parts. This paper reviews the literature on the use of such installed base information for spare part demand forecasting in order to asses (1) what type of installed base information can be useful; (2) how this information can be used to derive forecasts; (3) the value of using installed base information to improve forecasting; and (4) the limits of the existing methods. This serves as motivation for future research.
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Keywords
38 Economics, 4905 Statistics, 3802 Econometrics, 49 Mathematical Sciences