An analytical model for the optimisation of maintenance profitability

An analytical model for the optimisation of maintenance profitability Purpose The paper presents a mathematical model that measures the profitability of the maintenance system based on the traditional accounting definition of profitability. There is currently a dire need for an article presenting a scientificbased framework for practitioners in maintenance to make optimal instead of suboptimal decisions on profitability. Designmethodologyapproach A case study is presented to reflect the actual application of the proposed model. Different situations were considered in modelling to obtain optimal results. Simulation experiments were conducted to demonstrate that maintenance profitability is a reality through the use of differential calculus. Findings It was observed that the approach presented is a holistic viewpoint of maintenance profitability measurement. Research limitationsimplications An adequate understanding of the maintenance system is needed to properly implement the model. Practical implications The practical application of the model is that the maintenance system will now be viewed as a valueadding activity instead of a necessary evil or a bottomless pit for expenses. Originalityvalue This paper fulfils an identified need and offers practical help to managers in taking guided decisions that are optimal. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Productivity and Performance Management Emerald Publishing

An analytical model for the optimisation of maintenance profitability

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
1741-0401
DOI
10.1108/17410400510576612
Publisher site
See Article on Publisher Site

Abstract

Purpose The paper presents a mathematical model that measures the profitability of the maintenance system based on the traditional accounting definition of profitability. There is currently a dire need for an article presenting a scientificbased framework for practitioners in maintenance to make optimal instead of suboptimal decisions on profitability. Designmethodologyapproach A case study is presented to reflect the actual application of the proposed model. Different situations were considered in modelling to obtain optimal results. Simulation experiments were conducted to demonstrate that maintenance profitability is a reality through the use of differential calculus. Findings It was observed that the approach presented is a holistic viewpoint of maintenance profitability measurement. Research limitationsimplications An adequate understanding of the maintenance system is needed to properly implement the model. Practical implications The practical application of the model is that the maintenance system will now be viewed as a valueadding activity instead of a necessary evil or a bottomless pit for expenses. Originalityvalue This paper fulfils an identified need and offers practical help to managers in taking guided decisions that are optimal.

Journal

International Journal of Productivity and Performance ManagementEmerald Publishing

Published: Mar 1, 2005

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