A major competitive advantage of production and service systems is establishing a proper maintenance policy. Therefore, maintenance managers should make maintenance decisions that best fit their systems. Multi-criterion decision-making methods can take into account a number of aspects associated with the competitiveness factors of a system. This paper presents a multi-criterio...

Condition-based maintenance (CBM) is becoming increasingly important due to the development of advanced sensor and information technology, which facilitates the remote collection of condition data. We propose a new CBM policy for multi-component systems with continuous stochastic deteriorations. To reduce the high setup cost of maintenance, a joint maintenance interval is introduced. With this ...

In the existing approach to maintenance and repair decision making for infrastructure facilities, policy evaluation and policy selection are performed under the assumption that a perfect facility deterioration model is available. The writer formulates the problem of developing maintenance and repair policies as a reinforcement learning problem in order to address this limitation. The writer exp...

This paper investigates the optimal length of lease period and maintenance policy for leased equipment. In order to have steady revenue, the lessor (owner) of equipment may provide a discount to encourage the lessee (user) to sign a contract with a longer lease period. However, as the lease period increases, the maintenance cost also increases due to the deterioration or usage of the equipment....

In this paper, we investigate two dimensional leased contracts for a dump truck operated in a mining industry. To keep the truck in a good operational condition, an imperfect preventive maintenance (PM) policy is applied. When the truck fails then corrective maintenance (CM) is done. PM and/or CM can be leased to an external agent or a lessor for an economic reason. The situation under study is...

Traditional preventive maintenance policies, such as age replacement, periodic replacement under minimal repair, and replacement policy N, are all studied based on the expected cost criteria without considering the management risk due to the cost variability. As a result, these policies could be significantly beyond the anticipated maintenance budget allocation and lead to crisis. In order to s...