Optimization of the lubricating oil inventory policy applied in a mining company


Şenses S., Gölbaşı O., S. Bakal I.

International Journal of Mining, Reclamation and Environment, vol.35, no.6, pp.451-470, 2021 (SCI-Expanded) identifier identifier

  • Publication Type: Article / Article
  • Volume: 35 Issue: 6
  • Publication Date: 2021
  • Doi Number: 10.1080/17480930.2021.1876820
  • Journal Name: International Journal of Mining, Reclamation and Environment
  • Journal Indexes: Science Citation Index Expanded (SCI-EXPANDED), Scopus, Academic Search Premier, Applied Science & Technology Source, Compendex, Computer & Applied Sciences, Environment Index, Geobase, Greenfile, INSPEC, Pollution Abstracts
  • Page Numbers: pp.451-470
  • Middle East Technical University Affiliated: Yes

Abstract

© 2021 Informa UK Limited, trading as Taylor & Francis Group.The mining industry should sustain mass and continuous production with an essential contribution of high-capacity machinery. Therefore, spare parts inventory management is vital in ensuring the intended mining production rate as an integral part of maintenance policies. In this paper, a mixed-integer model is presented to solve a multi-item and multi-supplier spare parts inventory model. This model is addressed to a lubricating oil inventory problem in one of the biggest multi-process mining companies in Turkey. The optimisation results show that the company’s current lubricating oil inventory policy can be improved financially by yielding an annual saving up to ₺18,566.