2026-09-26T22:43:46Zhttps://dspace.mit.edu/server/oai/requestoai:dspace.mit.edu:1721.1/552302022-01-13T07:54:36Zcom_1721.1_7582com_1721.1_7581col_1721.1_131023
Stephen C. Graves.
Lim, Yuen Chun Gerard
Massachusetts Institute of Technology. Dept. of Mechanical Engineering.
Massachusetts Institute of Technology. Department of Mechanical Engineering
2010-05-25T21:07:25Z
2010-05-25T21:07:25Z
2009
2009
http://hdl.handle.net/1721.1/55230
611958280
Thesis (M. Eng.)--Massachusetts Institute of Technology, Dept. of Mechanical Engineering, 2009.
Cataloged from PDF version of thesis.
Includes bibliographical references (p. 75-76).
Inadequate inventory management policies utilized by the maintenance facility of a manufacturing plant result in the lack of spare components needed to carry out essential repairs on molds used in injection molding operations, thereby reducing the plant's effective production capacity. Thus, molds need to be run for longer periods to produce the same quantities of finished products, exposing them to a higher rate of wear and tear, ultimately incurring higher maintenance costs, utility costs and repair costs. This research creates a framework for properly categorizing the spare components based on their characteristics and applying relevant inventory models to each category to derive the inventory control parameters of reorder quantity, safety stock level and reorder point. Spare component inventory will be categorized by usage rates and their criticality to mold repairs while critical inventory parameters of safety stock, reorder point and reorder quantity are set to ensure a 97.5% service level while reducing total inventory costs by 9.1% or by $38.7K per year.
by Lim Yuen Chun Gerard.
M.Eng.
[viii], 91 p.
eng
Massachusetts Institute of Technology
M.I.T. theses are protected by
copyright. They may be viewed from this source for any purpose, but
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http://dspace.mit.edu/handle/1721.1/7582
Mechanical Engineering.
Setting optimal inventory policy for mold spare components in a medical device production facility
Thesis
application/pdf
Publication
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<Abstract>Inadequate inventory management policies utilized by the maintenance facility of a manufacturing plant result in the lack of spare components needed to carry out essential repairs on molds used in injection molding operations, thereby reducing the plant's effective production capacity. Thus, molds need to be run for longer periods to produce the same quantities of finished products, exposing them to a higher rate of wear and tear, ultimately incurring higher maintenance costs, utility costs and repair costs. This research creates a framework for properly categorizing the spare components based on their characteristics and applying relevant inventory models to each category to derive the inventory control parameters of reorder quantity, safety stock level and reorder point. Spare component inventory will be categorized by usage rates and their criticality to mold repairs while critical inventory parameters of safety stock, reorder point and reorder quantity are set to ensure a 97.5% service level while reducing total inventory costs by 9.1% or by $38.7K per year.</Abstract>
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