A Decision Optimization Model for Leased Manufacturing Equipment with Warranty under Forecasting Production/Maintenance Problem. (19th May 2015)

• Record Type: Journal Article
• Authors: Hajej, Zied; Rezg, Nidhal; Gharbi, Ali
• Other Names: Wu Shaomin Academic Editor.
• Is Part Of: Mathematical problems in engineering. Volume 2015(2015)
• Publication Date: 2015-05-19
• Subjects: Engineering mathematics -- Periodicals; 510.2462
• DOI: 10.1155/2015/274530
• Languages: English
• ISSNs: 1024-123X

Abstract

Abstract : Due to the expensive production equipment, many manufacturers usually lease production equipment with a warranty period during a finite leasing horizon, rather than purchasing them. The lease contract contains the possibility of obtaining an extended warranty for a given additional cost. In this paper, based on the forecasting production/maintenance optimization problem, we develop a mathematical model to study the lease contract with basic and extended warranty based on win-win relationship between the lessee and the lessor. The influence of the production rates in the equipment degradation consequently on the total cost by each side during the finite leasing horizon is stated in order to determine a theoretical condition under which a compromise-pricing zone exists under different possibilities of maintenance policies.