Forecasting spare part demand with installed base information: a Review
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Publication type
Journal article with impact factorPublication Year
2019Journal
International Journal of ForecastingPublication Volume
35Publication Issue
1Publication Begin page
181Publication End page
196
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The classical spare part demand forecasting literature studies methods to forecast intermittent demand. The majority of these methods do not consider the underlying demand generating factors. Demand for spare parts originates from the part replacements of the installed base of machines, which are either done 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 future spare part demand. In this paper we review the literature on the use of such installed base information for spare part demand forecasting to asses (1) what type of installed base information can be useful; (2) how this information can be used to derive forecasts; (3) what is the value of using installed base information to improve forecasting; and (4) what are the limits of the currently existing methods. The latter serve as motivation for future research.Knowledge Domain/Industry
Operations & Supply Chain Managementae974a485f413a2113503eed53cd6c53
10.1016/j.ijforecast.2018.09.002