Optimal Preventive Maintenance For Used Optimal Preventive Maintenance For Used Dump Trucks With Two-Dimensional Lease Contract
This paper develops a mathematical model of optimal preventive maintenance for a two-dimensional lease
contract of used dump trucks. The lease contract coverage is characterized by two parameters – age and usage. We use one
dimensional approach to model the age and usage of a repairable equipment. The lessor will provide preventive maintenance
and corrective (CM) actions during the contract period, and a penalty cost incurred when the time required to perform an
imperfect repair (CM) exceeds a target. This strategy will reduce equipment failures and hence it decreases the penalty cost
and maintenance cost during the lease contract. We find the optimal maintenance degree and time between preventive
maintenance, which minimizes the expected total cost.
Keywords: used dump trucks, lease contract, imperfect repair, preventive maintenance, expected lease cost.