Open AccessPreventive Maintenance Interval Prediction: a Spare Parts Inventory Cost and Lost Earning Based Model
Author(s) -
O. A. Adebimpe,
Victor Oladokun,
O. E. Charles-Owaba
Publication year - 2015
Publication title -
engineering, technology and applied science research/engineering, technology and applied science research
Language(s) - English
Resource type - Journals
eISSN - 2241-4487
pISSN - 1792-8036
DOI - 10.48084/etasr.565
Subject(s) - spare part , preventive maintenance , interval (graph theory) , reliability (semiconductor) , reliability engineering , earnings , operations management , inventory cost , computer science , operations research , business , engineering , mathematics , finance , marketing , supply chain , power (physics) , physics , combinatorics , quantum mechanics
In this paper, some preventive maintenance parameters in manufacturing firms were identified and used to develop cost based functions in terms of machine preventive maintenance. The proposed cost based model considers system’s reliability, cost of keeping spare parts inventory and lost earnings in deriving optimal maintenance interval. A case of a manufacturing firm in Nigeria was observed and the data was used to evaluate the model.