We consider a collaborative arrangement where a number of companies are willing to share expensive spare parts, required for both failure replacement and preventive maintenance purposes. We develop a discrete-time Markov decision model for the joint optimization of maintenance and spare parts inventory policies for both a single- and a multi-company problem. The cost savings obtained as a result of sharing are evaluated. A number of cost allocation schemes, making all the companies involved being better off by sharing the spare parts rather than acting independently, are developed.
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25th European Conference on Operational Research, 2012