Optimal periodic preventive maintenance policy for leased equipment

For leased equipment the lessor incurs penalty costs for failures occurring over the lease period and for not rectifying such failures within a specified time limit. Through preventive maintenance actions the penalty costs can be reduced but this is achieved at the expense of increased maintenance costs. The paper looks at a periodic preventive maintenance policy which achieves a tradeoff between the penalty and maintenance costs. (c) 2005 Elsevier Ltd. All rights reserved.

Optimal preventive maintenance of leased equipment with corrective minimal repairs

For leased equipment, the lessor carries out the maintenance of the equipment. Usually, the contract of lease specifies the penalty for equipment failures and for repairs not being carried out within specified time limits. This implies that optimal preventive maintenance policies must take these penalty costs into account and properly traded against the cost of preventive maintenance actions. The costs associated with failures are high as unplanned corrective maintenance actions are costly and the resulting penalties due to lease contract terms being violated. The paper develops a model to determine the optimal parameters of a preventive maintenance policy that takes into account all these costs to minimize the total expected cost to the lessor for new item lease. The parameters of the policy are (i) the number of preventive maintenance actions to be carried out over the lease period, (ii) the time instants for such actions, and (iii) the level of action. (c) 2005 Elsevier B.V. All rights reserved.

Maintenance Strategies for used equipment under lease

Abstract: Purpose – The aim of this research is to determine the optimal upgrade and preventive maintenance actions that minimize the total expected cost (maintenance costs+penalty costs). Design/methodology/approach – The problem is a four-parameter optimization with two parameters being k-dimensional. The optimal solution is obtained by using a four-stage approach where at each stage a one-parameter optimization is solved. Findings – Upgrading action is an extra option before the lease of used equipment, in addition to preventive maintenance action. Upgrading action makes equipment younger and preventive maintenance action lowers the ROCOF. Practical implications – There is a growing trend towards leasing equipment rather than owning it. The lease contract contains penalties if the equipment fails often and repairs are done within reasonable time period. This implies that the lessor needs to look at optimal preventive maintenance strategies in the case of new equipment lease, and upgrade actions plus preventive maintenance in the case of used equipment lease. The paper deals with this topic and is of great significant to business involved with leasing equipment. Originality/value – Nowadays many organizations are interested in leasing equipment and outsourcing maintenance. The model in this paper addresses the preventive maintenance problem for leased equipment. It provides an approach to dealing with this problem.

Wills' mineral processing technology: an introduction to the practical aspects of ore treatment and mineral recovery

"Wills' Mineral Processing Technology" provides practising engineers and students of mineral processing, metallurgy and mining with a review of all of the common ore-processing techniques utilized in modern processing installations. Now in its Seventh Edition, this renowned book is a standard reference for the mineral processing industry. Chapters deal with each of the major processing techniques, and coverage includes the latest technical developments in the processing of increasingly complex refractory ores, new equipment and process routes. This new edition has been prepared by the prestigious J K Minerals Research Centre of Australia, which contributes its world-class expertise and ensures that this will continue to be the book of choice for professionals and students in this field. This latest edition highlights the developments and the challenges facing the mineral processor, particularly with regard to the environmental problems posed in improving the efficiency of the existing processes and also in dealing with the waste created. The work is fully indexed and referenced. -The classic mineral processing text, revised and updated by a prestigious new team -Provides a clear exposition of the principles and practice of mineral processing, with examples taken from practice -Covers the latest technological developments and highlights the challenges facing the mineral processor -New sections on environmental problems, improving the efficiency of existing processes and dealing with waste.