Periodical Preventive-Maintenance Contract for a Leased Facility with Weibull Life-Time

Periodical Preventive-Maintenance Contract for a Leased Facility with Weibull Life-Time 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. Quality & Quantity Springer Journals

Periodical Preventive-Maintenance Contract for a Leased Facility with Weibull Life-Time

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Kluwer Academic Publishers
Copyright © 2006 by Springer
Social Sciences; Methodology of the Social Sciences; Social Sciences, general
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