Spare Parts Optimisation study is the various approaches for the determination of the optimal stock levels to minimise the risks associated with spare parts stockouts, and the costs associated with holding inventory. The Spare Parts Optimisation is composed of repairable or not, relatively expensive, and highly reliable components as well as the minimisation of costs, maximisation of equipment availability, and the achievement of a desired stock reliability.

Related Definitions in the Project: The Operation and Maintenance