Spare Parts Provisioning Calculator (Poisson)
Optimize critical spare parts stock levels using Poisson demand modeling, lead time, and targeted service levels.
Core Formula
Poisson: P(X≥1) = 1 - e^(-λt) for spare demand probability
Governing Standards
- ISO 14224 — Spare parts taxonomy
- API 689 — Collection of reliability data in refineries
Frequently Asked Questions
How do I determine the right spare parts stock level?
Use a Poisson distribution model: calculate expected demand (failures/year × lead time), then determine stock level to achieve target service level (e.g., 95% availability).