A maintenance-replacement optimization model under a renewable hybrid warranty. Issue 3 (January 2021)

• Record Type: Journal Article
• Authors: Shang, Lijun; Si, Shubin; Cai, Zhiqiang; Zhu, Wenjin; Zou, Anquan
• Is Part Of: IOP conference series. Volume 1043:Issue 3(2021)
• Publication Date: 2021-01
• Subjects: Materials science -- Periodicals; 620.1105
• DOI: 10.1088/1757-899X/1043/3/032053
• Languages: English
• ISSNs: 1757-8981

Abstract

Abstract: In this paper, firstly, a renewable hybrid warranty policy is proposed from the manufacturer's perspective. By integrating the replacement depending on number of failures and preventive maintenance at the expiration of the warranty, secondly, a maintenance-replacement policy is presented from the perspective of the customer. Thirdly, the consumer's expected cost rate model is obtained and the related special models are offered. Finally, a numerical example is used to illustrate performance of the proposed maintenance-replacement policy and to analyse sensitively. As showed in the example, performance of the proposed maintenance-replacement policy is more superior.