Browsing by Author "Du Toit, Deirdre"

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    Decision-making framework for inventory management of spare parts in capital-intensive industries
    (Stellenbosch : Stellenbosch University, 2014-12) Du Toit, Deirdre; Vlok, P. J.; Stellenbosch University. Faculty of Engineering. Department of Industrial Engineering.
    ENGLISH ABSTRACT: Effective management of spare parts inventory is essential to companies because it influences inventory costs and asset utilization. The vast and diverse portfolio of spare parts, intermittent demand patterns and contradicting objectives between departments are examples of some of the factors that complicate Spare Parts Management (SPM). Managers of spare parts are faced with trade-off decisions between risk and cost on a daily basis. These decisions include, amongst many, determining appropriate stock levels and order frequencies. Despite the importance of SPM, decisions are however often made intuitively in practice with little factual support, and the decision-making process is commonly constrained within departmental silos. Even though there is a large body of academic knowledge on this topic, practical applications of spare parts inventory solutions lag behind theoretical studies. The majority of studies in literature focus on single components of SPM, such as demand forecasting and parts classification, whereas fewer studies consider the decision-making process itself. This study proposes a decision-making framework for spare parts inventory management. The framework is based on a wide-ranging literature review that focuses on capturing the essence of Spare Parts Management (SPM), but also acknowledges the interconnectedness of the problem. Therefore, core inventory management principles, as well as closely related topics such as Supply Chain Management (SCM) and Physical Asset Management (PAM), are studied in the context of spare parts. The broad scope of the literature study leads to a holistic approach to the problem and prevents sub-optimization. The proposed framework condenses principles from various fields of study (SCM, PAM, Classification and Inventory Management) into a stepwise methodology presented as a decision-making framework. The objective of the framework is to provide managers with a structured process, based on factual information, to enable better decision-making in the field. Furthermore, the framework aims to capture the fundamentals of SPM in a simplistic manner to ease the adoption of the framework in practice. A case study is conducted in the South African mining industry to validate the framework. The case study demonstrates that the framework is practical, provides structured guidance, and assists managers to make trade-off decisions in managing spare parts inventory.
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    Supply chain management : a framework of understanding
    (Southern African Institute for Industrial Engineering, 2014-11) Du Toit, Deirdre; Vlok, Pieter-Jan
    The topic of supply chain management (SCM) is complex to understand because it encompasses many different flows of activities, components, functions, and role-players. The literature is scattered across multiple functions, varies in scope, and is often confined to certain elements within SCM. This article aims to provide a literature overview of SCM. It is explained with the aid of a newly-developed framework of understanding that offers a graphical representation of the term. It unifies and condenses different components within SCM and shows the relationship between them. The framework was developed by identifying the main themes in the definitions for SCM, examining existing categorisations and frameworks in SCM, and analysing frameworks in other disciplines. The outcome of this article can be used as a guide to explain and orientate researchers and practitioners in the field.