| Summary: | The manufacturing industry has been experiencing supply chain disruptions, which have led to reduced production levels and increased lead times. Schaeffler has also been facing challenges in maintaining an adequate supply of spare parts. As a result, they have been overstocking less-used spare parts and experiencing stockouts of highly used ones. The current approach to spare parts management relies solely on past consumption averages, which leads to extended machine downtime and reduced productivity. Off-the-shelf solutions for spare parts management do not meet Schaeffler's specific requirements and processes, necessitating the development of a customized solution. Therefore, it calls for the need to develop a spare parts management application that aligns with Schaeffler's specific requirements and enables end users to improve spare parts availability, reduce operational downtime, optimize stock levels, and decrease overall costs. To achieve this goal, a literature review is necessary to identify the most appropriate methods to incorporate into the customized solution.
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