To maintain a fleet, such as aircraft, shipping or railway, Maintenance Repair and Overhaul (MRO) companies need parts in a timely manner. In order to reduce downtime, failed parts are pulled and replaced quickly. Subsequently, pulled parts are being repaired or overhauled. Surplus parts move within an Alternative Closed Loop Supply Chain. This research project takes the aircraft industry as a case example. Decision making within the supply chain is mainly based on the spare part's Fair Market Value (FMV) which is currently found by means of manual analysis. Utilization options include storing for future use, direct sale or auction to a surplus market. The market network for aircraft surplus parts is rather intransparent, by comparison. A high number of parts are being traded by a small number of market participants. Transactions are done via personal connections, e-mail and telephone. Nevertheless, the market for surplus parts is constantly growing.
Manual value determination cannot keep up with this kind if growth. An automated FMV determination represents a promising alternative. Challenges include aggregation of data from multiple Operational Source Systems, handling of missing or erroneous data, initial calibration of a value determination model and Model Management including recalibration, re-estimation in order to keep the proposed FMV close to reality. These challenges are being faced by research on a combination of Data Warehousing, Operations Research and Information Systems in order to develop a Fair Market Evaluator framework.