Optimal periodic preventive maintenance policy for leased equipment

Pongpech, J. and Murthy, D. N. P. (2006) Optimal periodic preventive maintenance policy for leased equipment. Reliability Engineering & System Safety, 91 7: 772-777. doi:10.1016/j.ress.2005.07.005

Author Pongpech, J.
Murthy, D. N. P.
Title Optimal periodic preventive maintenance policy for leased equipment
Journal name Reliability Engineering & System Safety   Check publisher's open access policy
ISSN 0951-8320
Publication date 2006
Sub-type Article (original research)
DOI 10.1016/j.ress.2005.07.005
Volume 91
Issue 7
Start page 772
End page 777
Total pages 6
Editor G. E. Apostolakis
Place of publication Oxford
Publisher Elsevier Sci Ltd
Collection year 2006
Language eng
Subject C1
230117 Operations Research
720205 Industry costs and structure
0913 Mechanical Engineering
Abstract For leased equipment the lessor incurs penalty costs for failures occurring over the lease period and for not rectifying such failures within a specified time limit. Through preventive maintenance actions the penalty costs can be reduced but this is achieved at the expense of increased maintenance costs. The paper looks at a periodic preventive maintenance policy which achieves a tradeoff between the penalty and maintenance costs. (c) 2005 Elsevier Ltd. All rights reserved.
Keyword Engineering, Industrial
Operations Research & Management Science
Equipment Lease
Lease Contract
Penalty Costs
Periodic Preventive Maintenance
Optimal Maintenance Strategy
Deteriorating Systems
Q-Index Code C1

Document type: Journal Article
Sub-type: Article (original research)
Collections: School of Mechanical & Mining Engineering Publications
2007 Higher Education Research Data Collection
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Citation counts: TR Web of Science Citation Count  Cited 39 times in Thomson Reuters Web of Science Article | Citations
Scopus Citation Count Cited 55 times in Scopus Article | Citations
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Created: Wed, 15 Aug 2007, 09:01:22 EST