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Decision making and tradeoffs in the management of spare parts inventory at utilities

Scala, NM and Needy, KL and Rajgopal, J (2009) Decision making and tradeoffs in the management of spare parts inventory at utilities. In: UNSPECIFIED.

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Abstract

During the past decade, the United States electric utility industry has migrated from a regulated to a deregulated business environment. As a result, utilities in the electric power sector face a much more urgent imperative to emphasize cost efficiencies as compared to the days of regulation. One major opportunity for cost savings is through reductions in spare parts inventory. Most utilities are accustomed to carrying large volumes of expensive, relatively slow-moving units because of a high degree of risk-averseness. In this paper we discuss the tradeoffs associated with keeping large amounts of inventory versus the potential revenue losses if a plant were to go off-line. We also discuss the resulting considerations with respect to inventory along with forecasting techniques and data needed to aid plant managers in making stocking decisions. Copyright© (2009) by the American Society for Engineering Management.


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Details

Item Type: Conference or Workshop Item (UNSPECIFIED)
Status: Published
Creators/Authors:
CreatorsEmailPitt UsernameORCID
Scala, NM
Needy, KL
Rajgopal, Jgunner1@pitt.eduGUNNER1
Date: 1 December 2009
Date Type: Publication
Access Restriction: No restriction; Release the ETD for access worldwide immediately.
Journal or Publication Title: 30th Annual National Conference of the American Society for Engineering Management 2009, ASEM 2009
Page Range: 257 - 263
Event Type: Conference
Institution: University of Pittsburgh
Schools and Programs: Swanson School of Engineering > Industrial Engineering
Refereed: Yes
ISBN: 9781617381058
Date Deposited: 12 Aug 2014 18:47
Last Modified: 02 Feb 2019 15:55
URI: http://d-scholarship.pitt.edu/id/eprint/22700

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