The selection of spare parts is an everyday decision for ships’ engineers. Vessels need to be maintained and spare parts are required on board not only for scheduled maintenance but also for safety reasons. Inevitably, safety plays a major role in the spare parts decision model and when the risk assessment is not well evaluated, it can result in budget overspending. In this competitive market, we all need to find alternatives - not only to stay inside our budget but also to optimise the b....

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