An optimum condition‐based replacement and spare provisioning policy based on Markov chains

Wang, Ling; Chu, Jian; Mao, Weijie

doi:10.1108/13552510810909984

Cited by 50 publications

(26 citation statements)

References 24 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Recently, more attention has been directed towards improving and optimising maintenance in manufacturing systems. Maintenance cost can reach anywhere between 15% and 70% of production costs [1]. Wang [2] observes that there is still a large potential for increasing the productivity in current maintenance practices.…”

Section: Introductionmentioning

confidence: 99%

State of the art in simulation-based optimisation for maintenance systems

Alrabghi

Tiwari

2015

Computers & Industrial Engineering

177

110

View full text Add to dashboard Cite

Recently, more attention has been directed towards improving and optimising maintenance in manufacturing systems using simulation. This paper aims to report the state of the art in simulation-based optimisation of maintenance by systematically classifying the published literature and outlining main trends in modelling and optimising maintenance systems. The authors investigate application areas and published real case studies as well as researched maintenance strategies and policies. Much of the research in this area is focusing on Preventive Maintenance and optimising Preventive Maintenance frequency that will lead to the minimum cost. Discrete Event Simulation was the most reported technique to model maintenance systems whereas modern optimisation methods such as Genetic Algorithms was the most reported optimisation method in the literature. On this basis, the paper identifies the current gaps and discusses future prospects. Further research can be done to develop a framework that guides the experimenting process with different maintenance strategies and policies. More real case studies can be conducted on multi-objective optimisation and Condition Based Maintenance especially in a production context.

show abstract

Section: Introductionmentioning

confidence: 99%

State of the art in simulation-based optimisation for maintenance systems

Alrabghi

Tiwari

2015

Computers & Industrial Engineering

177

110

View full text Add to dashboard Cite

show abstract

“…For such cases, one should consider increasing reliability by redesign or built-in redundancy. Existing research considers CBM and inventory optimization problems for identical and independent components (see, e.g., Wang et al (2008Wang et al ( ), (2009 and Xie and Wang, (2008)). These works take non-zero lead times, fixed ordering costs, and shortage costs for spare parts into account.…”

Section: Discussionmentioning

confidence: 99%

“…To the best of our knowledge, only a few articles are available for components subject to CBM. Wang et al (2008) considered a number of identical components and developed a condition-based replacement and spare parts ordering policy. They modeled the degradation of components as discrete-time Markov chains.…”

Section: Literature Reviewmentioning

confidence: 99%

Integrated maintenance and spare part optimization for moving assets

2017

View full text Add to dashboard Cite

We consider an integrated maintenance and spare part optimization problem for a single critical component of a moving asset for which the degradation level is observable. Degradation is modeled as a function of the current operating mode, mostly dictated by the actual location of the moving asset. The spare part is stocked at the home base that the moving asset eventually visits. Alternatively, the spare part can be stocked on-board the moving asset to prevent costly expedited deliveries. The costs associated with spare part deliveries and part replacements depend on the operating mode. Our objective is to minimize the expected total discounted cost of spare part deliveries, part replacements, and inventory holding over an infinite planning horizon. We formulate the problem as a Markov decision process and characterize the structure of the optimal policy, which is shown to be a bi-threshold policy in each operating mode. Our numerical experiments show that the cost savings obtained by the integrated optimization of spare part inventory and part replacement decisions are significant. We also demonstrate the value of the integrated approach in a case study from the maritime sector.

show abstract

“…[104]), and spare parts (e.g. [105]). Papers that involves resource dependence for multi-component systems have been extensively discussed in the study of Olde Keizer et al [3].…”

Section: Resource Dependencementioning

confidence: 99%

A review of asset management literature on multi-asset systems

Petchrompo

Parlikad

2019

Reliability Engineering & System Safety

View full text Add to dashboard Cite

This article gives an overview of the literature on asset management for multi-unit systems with an emphasis on two multi-asset categories: fleet (a system of homogeneous assets) and portfolio (a system of heterogeneous assets). As asset systems become more complicated, researchers have employed different terms to refer to their specific problems. With an objective to facilitate readers in searching conducive studies to their interests, this paper establishes a novel classification scheme for multi-unit systems in accordance with essential features such as diversity of assets and intervention options. Moreover, discerning differences in characteristics between cross-component and cross-asset interactions, we select three types of potential multi-component dependencies (performance, stochastic, and resource) and extend their notions to be applicable to multi-asset systems. The investigation into these dependencies enables the identification of problems that could exist in real industrial settings but are yet to be determined in academia. Ultimately, we delve into modelling approaches adopted by previous researchers. This comprehensive information allows us to offer the insights into the current trends in multi-asset maintenance. We expect that the output of this review paper will not only stress research gaps on multi-asset systems, but more importantly help systematise future studies on this aspect.

show abstract

An optimum condition‐based replacement and spare provisioning policy based on Markov chains

Cited by 50 publications

References 24 publications

State of the art in simulation-based optimisation for maintenance systems

State of the art in simulation-based optimisation for maintenance systems

Integrated maintenance and spare part optimization for moving assets

A review of asset management literature on multi-asset systems

Contact Info

Product

Resources

About