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Optimal threshold values of age and two-phase maintenance policy for leased equipments using age reduction method

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Abstract

This paper investigates the optimal threshold values of age to perform preventive maintenance (PM) actions for leased equipment within the lease period. In this paper, we use age reduction method to describe the degree of PM and construct the maintenance cost function. For repairable leased equipment, two maintenance models are proposed: (i) maintenance policy of single-phase and (ii) maintenance policy of two-phase. During the lease period, PM actions are carried out when the age of equipment reaches a certain threshold value. Any failure of the leased equipment is rectified by a minimal repair within the lease period. Under these maintenance schemes, the mathematical models of the expected total cost for maintenance policies of single-phase and two-phase are established, and the optimal maintenance policies are derived such that the expected total cost is minimized. Finally, the features of the optimal maintenance policy are illustrated through numerical examples.

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Authors and Affiliations

  1. Department of Industrial Management, National Taiwan University of Science and Technology, 43, Keelung Rd. Section 4, Taipei, Taiwan

    Ruey Huei Yeh

  2. Department of Information Management, Cardinal Tien College of Healthcare & Management, 112, MinZu, Rd., SinDian City, Taipei, Taiwan

    Wen Liang Chang

  3. Department of Business Administration, Tamkang University, Tamsui, Taipei, Taiwan

    Hui-Chiung Lo

Authors
  1. Ruey Huei Yeh
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  2. Wen Liang Chang
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  3. Hui-Chiung Lo
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Correspondence to Wen Liang Chang.

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Yeh, R.H., Chang, W.L. & Lo, HC. Optimal threshold values of age and two-phase maintenance policy for leased equipments using age reduction method. Ann Oper Res 181, 171–183 (2010). https://doi.org/10.1007/s10479-010-0713-2

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  • DOI: https://doi.org/10.1007/s10479-010-0713-2

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