Storing New Items
When optimizing the storage strategy of a new item the problem is usually
the lack of proper history data. Item consumption can be though estimated
by using the consumption simulation of StockOptim software. The first step
of consumption simulation is to create a reliability graph for the item
based on its usage locations. This graph can be formed from several different
sources that are e.g. reliability estimates from item supplier, estimates
from own experts (e.g. lasts at least 1000 hours with the probability of
0.75 and 2000 hours with the probability of 0.25) or history data of a
similar item that has been used in similar environment.
By adding information about the item usage and its service strategy to
the reliability graph it is possible to simulate both planned and unplanned
consumption of the item and to move to
calculate an optimal storage strategy for the item.