An integrated production, inventory and preventive maintenance model for a multi-product production system

2015 ◽  
Vol 137 ◽  
pp. 76-86 ◽  
Author(s):  
Xuejuan Liu ◽  
Wenbin Wang ◽  
Rui Peng
Keyword(s):  
Production System ◽  
Preventive Maintenance ◽  
Integrated Production ◽  
Production Inventory ◽  
Maintenance Model

Integrated Production and Preventive Maintenance Decision Making Using Option-Based Cost Model

2009 ◽  
Author(s):  
Xiaoning Jin ◽  
Lin Li ◽  
Jun Ni
Keyword(s):  
Decision Making ◽  
Production System ◽  
Preventive Maintenance ◽  
Demand Uncertainty ◽  
Cost Model ◽  
Stochastic Demand ◽  
Optimal Number ◽  
Integrated Production ◽  
Maintenance Decision ◽  
Cost Parameters

This paper presents an analytical, option-based cost model for an integrated production and preventive maintenance decision making with stochastic demand. The determination of preventive maintenance times and their schedule during a production period is converted to an option problem through maximizing the profit of the production per unit time. The optimal number of preventive maintenance actions is obtained and some further discussions on how the cost parameters affect the optimal results are also derived. The resulting option-based model is found to add flexibility to the production system and thus reduce the risk of shortage when the production system is faced with stochastic demand. A comparisons between the basic model (without option) and the option-based preventive maintenance model has shown that the option model is a more flexible under demand uncertainty and results in at least as much profit as the basic one.

scholarly journals Optimal Maintenance of a Production System with Intermediate Buffers

2012 ◽  
Vol 2012 ◽  
pp. 1-14 ◽  
Author(s):  
Constantinos C. Karamatsoukis ◽  
Epaminondas G. Kyriakidis
Keyword(s):  
Optimal Policy ◽  
Production System ◽  
Preventive Maintenance ◽  
Critical Level ◽  
Cost Structure ◽  
Raw Material ◽  
Production Unit ◽  
Production Inventory ◽  
Optimal Maintenance ◽  
Production Inventory System

We consider a production-inventory system that consists of an input-generating installation, a production unit andLintermediate buffers. It is assumed that the installation transfers the raw material to buffer and the production unit pulls the raw material from buffer We consider the problem of the optimal preventive maintenance of the installation if the installation deteriorates stochastically with usage and the production unit is always in operative condition. We also consider the problem of the optimal preventive maintenance of the production unit if the production unit deteriorates stochastically with usage and the installation is always in operative condition. Under a suitable cost structure and for given contents of the buffers, it is proved that the average-cost optimal policy for the first (second) problem initiates a preventive maintenance of the installation (production unit) if and only if the degree of deterioration of the installation (production unit) exceeds some critical level. Numerical results are presented for both problems.

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