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Risk and Spare Parts Inventory in Electric Utilities

Scala, Natalie Michele and Rajgopal, Jayant and Needy, Kim LaScola (2009) Risk and Spare Parts Inventory in Electric Utilities. In: Industrial and Systems Engineering Research Conference, May 2009 - May 2009, Miami, Florida.

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Abstract

With deregulation, 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 used to carrying large volumes of expensive, relatively slow-moving units because of a high degree of risk-averseness. In this paper we discuss risk in the context of utilities, with a focus on nuclear power, and overview an ongoing research project that is aimed at incorporating risk and costs into a quantitative decision analysis framework for controlling spare parts inventories.


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Details

Item Type: Conference or Workshop Item (Paper)
Status: Published
Creators/Authors:
CreatorsEmailPitt UsernameORCID
Scala, Natalie Michele
Rajgopal, Jayant
Needy, Kim LaScola
Date: May 2009
Date Type: Publication
Access Restriction: No restriction; Release the ETD for access worldwide immediately.
Journal or Publication Title: Proceedings of the Industrial and Systems Engineering Research Conference
Publisher: Institute of Industrial Engineers
Place of Publication: Miami, Florida
Event Title: Industrial and Systems Engineering Research Conference
Event Dates: May 2009 - May 2009
Event Type: Conference
Institution: University of Pittsburgh
Schools and Programs: Swanson School of Engineering > Industrial Engineering
Refereed: Yes
Uncontrolled Keywords: Electric, utilities, risk, spare, parts, inventory
Date Deposited: 20 Aug 2014 19:26
Last Modified: 20 Dec 2018 00:55
URI: http://d-scholarship.pitt.edu/id/eprint/22701

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