How can maintenance influence/or is influenced by inventory management for digitalized operations?

This paper synthesizes how maintenance can influence or is influenced by inventory management for digitalized operations. The integration of maintenance and inventory management plays a key role in increasing & optimizing performance and reducing costs. Digital technologies, such as Cyber-Physical Systems (CPS), the Internet of Things (IoT), and digital twins, make the integration of these two operations management functions feasible and beneficial in any organization. Inventory management is the process of overseeing and controlling the flow of goods in a company. It is a key element in the supply chain, as it allows for inventory tracking from suppliers to manufacturers, warehouses, and retailers. The objective of inventory management is to “have the right products in the right place at the right time” (IBM, n.d.). The efficient and reliable operation of the inventory management process/system is critical to the success of a business. Maintenance management is key to ensuring the reliable operation of the inventory management system. The use of cyber-physical systems and IoT devices enables the real-time monitoring of the status & condition of physical assets and inventory levels. Digital twins provide a digital representation of the physical environment, namely, physical assets, processes and systems. They play an important role in the digitalization of inventory management and maintenance systems. These digital technologies facilitate predictive maintenance and just-in-time inventory management. Digital twins may allow for the simulation of scenarios showing the impact of maintenance activities on inventory management and vice versa. Vatn (2018) highlights the benefits of using digital technologies, namely, improved decision making using real-time data, accurate forecasting and better alignment of inventory and maintenance activities. for inventory and maintenance activities. Inventory management practices influence maintenance operations by ensuring that spares are available timeously when needed for maintenance purposes. This reduces delays within maintenance activities. According to Van Horenbeek et al. (2013), the effectiveness of maintenance linked inventory management practices and minimize downtime. Inventory levels are monitored by continuous review systems that allow for immediate replenishment when inventory levels fall below a predefined limit. This is effective in areas where the demand for spare parts is unpredictable. Within a stable environment, periodic review policies involve ordering inventory at fixed intervals (Van Horenbeek et al., 2013). Conversely, the reliability of inventory management systems is improved by the implementation of age- based and condition-based maintenance strategies using digital technologies that can predict failures and trigger the appropriate maintenance strategy (Vatn, 2018). Age-based maintenance involves replacing parts at predetermined intervals, while condition-based maintenance uses real-time data to perform maintenance only when needed. According to Van Horenbeek et al. (2013), both maintenance strategies benefit from accurate inventory management, as the timely availability of parts is critical to minimizing downtime and ensuring operational efficiency.