TY - GEN
T1 - Taxonomy of factors for lifetime buy
AU - Jennings, Connor
AU - Terpenny, Janis P.
N1 - Funding Information:
This work was funded by the National Science Foundation through Grant 1238335. Any opinions, findings, and conclusions or recommendations presented in this paper are those of the authors and do not necessarily reflect the views of the National Science Foundation.
PY - 2015
Y1 - 2015
N2 - As products become more electronically complex and component lifecycles are shortened due to rapidly changing technologies, obsolescence management has become a challenging problem associated with sustainable products. One of the most common strategies to manage obsolescence is to purchase enough components to sustain the product over its life in operation. This strategy is known as lifetime buy. Purchasing components for the life of a product depends on satisfying demand, as well as maintaining the product in the context of its use within larger complex products or systems. Firms must also consider manufacturing systems and support systems that were built for the product. Component loss due to damage or expiration in storage and scrap during manufacturing also contribute to lifetime buy quantities. Product support systems, such as warranties and product replacement programs, can consume a portion of lifetime buy reserves and lead to unsatisfied demand from customers. This paper takes on optimizing lifetime buy decisions by investigating the myriad of factors impacting total costs. A taxonomy is put forward that provides the basis for a comprehensive decision support tool, capable of assisting lifetime buy quantity decisions over the product lifecycle.
AB - As products become more electronically complex and component lifecycles are shortened due to rapidly changing technologies, obsolescence management has become a challenging problem associated with sustainable products. One of the most common strategies to manage obsolescence is to purchase enough components to sustain the product over its life in operation. This strategy is known as lifetime buy. Purchasing components for the life of a product depends on satisfying demand, as well as maintaining the product in the context of its use within larger complex products or systems. Firms must also consider manufacturing systems and support systems that were built for the product. Component loss due to damage or expiration in storage and scrap during manufacturing also contribute to lifetime buy quantities. Product support systems, such as warranties and product replacement programs, can consume a portion of lifetime buy reserves and lead to unsatisfied demand from customers. This paper takes on optimizing lifetime buy decisions by investigating the myriad of factors impacting total costs. A taxonomy is put forward that provides the basis for a comprehensive decision support tool, capable of assisting lifetime buy quantity decisions over the product lifecycle.
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M3 - Conference contribution
AN - SCOPUS:84971013859
T3 - IIE Annual Conference and Expo 2015
SP - 430
EP - 436
BT - IIE Annual Conference and Expo 2015
PB - Institute of Industrial Engineers
T2 - IIE Annual Conference and Expo 2015
Y2 - 30 May 2015 through 2 June 2015
ER -