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The aftermarket business is a highly profitable act ivity for companies, and they can earn considerable profits from selling spare pa rts. Spare parts demands are more uncertain and intermittent in comparison with finis hed goods and associated work in progress parts. In the aftermarket, the demand unce rtainty of the spare parts for the OEMs is complicated by the fact that the other comp etitors, known as market players or will-fitters, supply substitutable parts usually with lower cost of production and deliver them to the market at cheaper prices. This uncertainty makes spare parts management challenging, and this study develops str ategic approaches for spare parts price setting and inventory level control to furthe r exploit the benefits of the spare parts business. This dissertation is divided into f our main parts. In the first part, a brief review of inventory syst em policies is provided. The review starts with an introduction to the inventory systems terminology and follows with a categorization of the inventory systems with the aim of developing spare parts inventory models. Moreover, a discussion about the computations related to the (Q,r) policy is provided. An algorithm is proposed to fin d the optimal re-order point/lot-size and a Monte Carlo simulation is designed to evaluat e the mathematical optimization solutions including the new algorithm and the other classical methods. In the second part, a literature review related to spare parts ma nagement is presented. The literature review is organized in such a way that in the begin ning the inventory control policies are introduced. Then the perspective of uniqueness of spare parts on the inventory management is illustrated. Next, spare parts cluste ring and demand are studied and forecasting methods are reviewed. The use of Game T heory for inventory systems planning is studied. Also spare parts pricing as a str tegic method to increase the profit of the suppliers is evaluated. In the third part, t o investigate the profitability of spare parts business, the notion of renewal cost versus t he replacement cost is proposed. The replacement cost of a product is defined as the cur rent market price of the product and the renewal cost of a product is the acquisition co st of spares to completely renew the product excluding labor costs. These costs are calc ulated for some products with specific characteristics, and the ratio between the renewal cost and the replacement cost as a scale to evaluate the sustainability of t he spare parts pricing is determined which declares that the spare parts pricing is unfa ir. In the last part, Game Theory as a tool to find ideal decision-making in spare parts m anagement taking into account the interactions among spare parts manufacturers. Accor ding to definite assumptions, spare parts inventory games in the form of normal, cooperative and non-cooperative, non-zero-sum, evolutionary, and competitive fringes are studied. The proposed games study the OEMs’ decision-making on spare parts pric ing strategies, inventory levels, batch productions and re-manufacturing efforts. The proposed strategic spare parts pricing methods as an alternative for regular pricing can factor in customers’ willingness to pur chase spare parts, demand uncertainty, market uncertainty, competitiveness of the parts in the market, stability of the cooperation or competition in price setting, ma rginal costs of designing an agreement for cooperation, and the marginal cost of pr duction and inventory. Furthermore it is possible to add the notion of ren ewal cost and the replacement cost ratio to the price sustainability description and t o include it in the suggested strategic pricing formulations as a factor that affects the d emand and supply curves.

DECISION-MAKING FOR STRATEGIC SPARE PARTS PRICING LEVELS: AN EVALUATION OF CONSUMER PRODUCTS SUSTAINABILITY