Joint optimization of maintenance and inventory with double age ordering policy

Abstract EN

In this paper, we study joint optimization of maintenance and inventory.

We consider a system containing a single machine subject to random failure, and have two kinds of failures, major and minor ones.

If a major failure does not occur until a scheduled replacement time T, the system is replaced at T.

An order for a spare is placed at a scheduled ordering time t0 or unscheduled ordering time on failure before to te (expedited order).

The objective is to determine jointly the three values (te, t0, T) so as to minimize the expected cost rate.

This cost includes the replacement, repair, inventory holding and shortage costs.

To explain this policy a numerical example is also included.