A Study on Imperfect Production System Under Maintenance Strategies and Warranty
In every production system, malfunctioning or breakdown during run time can incur heavy loss to the organization, to overcome such a situation it is crucial to use maintenance actions which can be either corrective or preventive depending upon the condition of the system. Also, warranty policy is extensively used world-wide to increase customer confidence in the product and to uplift sales. On account of this, the present chapter presents a problem of a manufacturer dealing with an imperfect production system considering maintenance actions and warranty policy by trading off the rework cost, holding cost, warranty cost and corrective/preventive maintenance cost so as to minimize the manufacturer's total cost. Numerical analysis and sensitivity analysis is performed to showcase model features.