Periodical Preventive-Maintenance Contract for a Leased Facility with Weibull Life-Time |
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| Authors: | Ruey Huei Yeh Cheng-Kang Chen |
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| Institution: | (1) Department of Industrial Management, National Taiwan University of Science and Technology, Taiwan;(2) Department of Information Management, National Taiwan University of Science and Technology, 43, Keelung Rd., Section 4, Taipei, Taiwan |
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| Abstract: | This paper develops a mathematical model to derive the optimal periodical preventive maintenance (PM) policy for a leased
facility with Weibull life-time. Within a lease period, any failures of the facility are rectified by minimal repairs and
a penalty may occur to the lessor when the time required to perform a minimal repair exceeds a reasonable time limit. To reduce
failures of the facility, additional PM actions are carried out periodically during the lease period. When the life-time distribution
of a product is Weibull, the optimal number of PM actions and the corresponding maintenance degrees are derived such that
the expected total maintenance cost is minimized. The structural properties of the optimal policy are investigated and an
efficient algorithm is provided to search for the optimal policy. Finally, numerical examples are provided to illustrate the
features of the proposed model. |
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| Keywords: | lease contract preventive maintenance minimal repair Weibull |
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