Optimization of the lubricating oil inventory policy applied in a mining company. Issue 6 (3rd July 2021)

• Record Type: Journal Article
• Authors: Senses, Sena; Golbasi, Onur; S. Bakal, Ismail
• Is Part Of: International journal of mining, reclamation and environment. Volume 35:Issue 6(2021)
• Page Start: 451
• Page End: 470
• Publication Date: 2021-07-03
• Subjects: Spare parts inventory policy -- mixed-integer optimisation programming -- mining equipment -- operating cost -- sensitivity analysis; Mining engineering -- Periodicals; Mineral industries -- Environmental aspects -- Periodicals; Abandoned mined lands reclamation -- Periodicals; 622.292
• DOI: 10.1080/17480930.2021.1876820
• Languages: English
• ISSNs: 1748-0930

Abstract

ABSTRACT: 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.