Integrated maintenance policy optimization with finite spares

Ruifeng Yang (), Jianshe Kang () and Qiwei Hu ()
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Ruifeng Yang: Mechanical Engineering College
Jianshe Kang: Mechanical Engineering College
Qiwei Hu: Mechanical Engineering College

International Journal of System Assurance Engineering and Management, 2018, vol. 9, issue 5, No 3, 1014-1021

Abstract: Abstract This paper proposes an integrated maintenance policy optimization with finite spares. A system with one working unit and N spare parts is considered. The system is replaced periodically by spare parts until no spare part is feasible. Once the working unit is faulty, the system fails. The decision objective is minimizing the expected cost per unit time by optimizing the replacement interval and inventory quantity of spare parts. A numerical example is presented to demonstrate the efficiency of the proposed model. The optimal decision variables are derived by the proposed optimization algorithms. Finally, the case with infinite spare parts is also presented.

Keywords: Preventive maintenance; Replacement; Spare parts; Inventory; Optimization algorithm (search for similar items in EconPapers)
Date: 2018
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DOI: 10.1007/s13198-018-0718-9

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