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Stock or Print? Impact of 3-D Printing on Spare Parts Logistics

We present a general framework to study the design of spare parts logistics in the presence of three-dimensional (3-D) printing technology. We consider multiple parts facing stochastic demands and adopt procure/manufacture-to-stock versus print-on-demand to highlight the main difference of production modes featured in traditional manufacturing and 3-D printing. To minimize long-run average system cost, our model determines which parts to stock and which to print. We find that the optimal 3-D printer’s utilization increases as the additional unit cost of printing declines and the printing speed improves. The rate of increase, however, decays, demonstrating the well-known diminishing returns effect. We also find the optimal utilization to increase in part variety and decrease in part criticality, suggesting the value of 3-D technology in tolerating large part variety and the value of inventory for critical parts. By examining the percentage cost savings enabled by 3-D printing, we find that, although the reduction in printing cost continuously adds to the value of 3-D printing in a linear fashion, the impact of the improvement of printing speed exhibits S-shaped growth. We also derive various structural properties of the problem and devise an efficient algorithm to obtain near optimal solutions. Finally, our numerical study shows that the 3-D printer is, in general, lightly used under realistic parameter settings but results in significant cost savings, suggesting complementarity between stock and print in cost minimization.

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Informasi Detail

Judul Seri

MANAGEMENT SCIENCE; Vol.66 No.9 September 2020

No. Panggil

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Penerbit

: .,

Deskripsi Fisik

p. 3860 - 3878

Bahasa

English

ISBN/ISSN

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Klasifikasi

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Tipe Isi

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Tipe Media

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Tipe Pembawa

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Edisi

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Subjek

MULTICLASS QUEUES
3-D PRINTING
SUPERMODULAR MINIMIZATION
(R, Q) POLICY
SPARE PARTS INVENTORY MANAGEMENT

Info Detail Spesifik

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Pernyataan Tanggungjawab

Jing-Sheng Song, Yue Zhang

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