Design of Base Stock Spare Parts Inventory Control Policy in a Power Generation Plant

The objective of this research was to design a base stock inventory control policy with a fixed review period for common spare parts with variable demand. The aim was to reduce inventory management costs within the context of the case study power generation plant. The study employed Monte Carlo simulation using real operational data from the plant over a one-year period to develop the most optimal

*อาจารย์ประจำ บัณฑิตวิทยาลัยการจัดการและนวัตกรรม มหาวิทยาลัยเทคโนโลยีพระจอมเกล้าธนบุรี

inventory control policy. Data were collected from January to December 2022, focusing on five specifically selected spare parts. Key data collected included daily demand and inventory levels, ordering costs, holding costs, and interest costs. The numerical simulation was conducted over a 10-year period, recording various cost components such as total cost, ordering cost, holding cost, and interest cost. The results showed that a base stock inventory control policy could be designed for each spare part, with the potential to reduce overall costs by at least 15%. This study demonstrated the feasibility of applying a new inventory management approach to the case study setting.