Spare parts inventory are needed for maintenance and repair of final products, vehicles, industrial machines and equipments, frequently requiring high investments and significantly affecting customer satisfaction. Inventory management is complex due to the large number of different items and low demands. This article presents a literature review on single location spare parts inventory control, embracing both demand forecasting techniques and inventory control decisions on the different life cycle stages. Overall, the literature review identified the following research opportunities on inventory management: criteria to decide to stock or not an item, how many to order in the first and the last batch, demand forecasting and inventory control models integration and case studies on real applications.
Inventory control; Spare parts; Lumpy demand
