Inventory control policy for spare parts at Phu My 3 Power Plant, Vietnam | |
| Author | Nguyen Van Dong |
| Call Number | AIT Thesis no.ISE-13-19 |
| Subject(s) | Spare parts--Vietnam Power plants--Vietnam Inventory control--Vietnam |
| Note | A project submitted in partial fulfillment of the requirements for the degree of Master of Engineering (Professional) in Industrial and Manufacturing Engineering with Area of Specialization in Industrial Engineering and Management, School of Engineering and Technology |
| Publisher | Asian Institute of Technology |
| Series Statement | Thesis; no.ISE-13-19 |
| Abstract | In the heavy utilization of equipment and machinery industry, such as oil & gas, steel, cement and power plant, adequate stock-holding of critical spare parts becomes essential. Normally, the plants or factories are unable to operate at high reliability without supplying of spare parts properly. Moreover, spare part inventory level control is one among importance functions in every organization and plays a key role to achieve high availability. Insufficient stocks could affect overall performance of plants, machines or assets. Consequently, unavailability of spares may result in long down time of machines or lower availability of the production line or increase of operational risks. On the other hand, over stock of inventories could lead to inefficient use of company’s capital and may cause unnecessary expenditures. Nevertheless, any business should find out the appropriated answer for the following basic questions of inventory control: Which spare parts should be stocked? How many quantities should be stocked? When should spare parts be reordered? Inventory optimization is the most important factor of business strategy. Hence, consideration of inventory optimization criteria such as cost minimum, maximum of equipment availability and the achievement of a desired stock reliability should be addressed. This study will first summary all spare parts used in Phu My 3 power plant and develop inventory policies for the plant’s real business activities. These policies will help the plant establish an effective inventory control policy and bring competitive opportunities and profit increase for the company. |
| Year | 2013 |
| Corresponding Series Added Entry | Asian Institute of Technology. Thesis ; no.ISE-13-19 |
| Type | Thesis |
| School | School of Engineering and Technology (SET) |
| Department | Department of Industrial Systems Engineering (DISE) |
| Academic Program/FoS | Industrial Systems Engineering (ISE) |
| Chairperson(s) | Voratas Kachitvichyanukul; |
| Examination Committee(s) | Huynh Trung Luong; |
| Scholarship Donor(s) | Phu My 3 BOT Power Company Limited; |
| Degree | Thesis (M.Eng.) - Asian Institute of Technology, 2013 |