Joint optimization of redundancy level and spare part inventories
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We analyze a redundant system (k-out-of-N) with multiple parts and spares.

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We jointly optimize the redundancy level and the spare part inventories.

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We develop an exact method and an approximation to evaluate the system availability.

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Adding spare parts and reducing the redundancy level cuts cost by 50% in a case study.

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The availability is not very sensitive to the shape of the failure time distribution.

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