IMTI Radical Innovation Webinar Series (Thursday, April 8th at 2:00 EST) - Dr. Killingsworth will present a system dynamics model that’s been developed of an aviation supply chain enabling evaluation of alternative cases in which investments are made to improve reliability, lower total demands, reduce spending on new procurement, and overhaul over the lifecycle. It shows that the payback potential of an investment depends upon annual demand for the part, cost of the part, percent improvement in reliability achieved, and any increase in cost of the part due to the re-design. The analysis shows that returns can be high and payback periods can be fast, particularly for investments to improve reliability of items with high demand and high cost. The research also indicates that close coordination is needed between program management, procurement planning and acquisition in order to fully realize savings. Ongoing research is developing reliability investment strategies and estimates for lifecycle costs under differing demand, manufacturing and overhaul scenarios.
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