A bi-objective model for optimizing replacement time of age and block policies with consideration of spare parts’ availability

Abstract

Reliability and availability of critical systems play an important role in achieving the stated objectives of engineering assets. Preventive replacement time affects the reliability of the components, thus the number of system failures encountered and its downtime expenses. On the other hand, spare parts inventory level is a very critical factor that affects the availability of the system. Usually, the decision maker has many conflicting objectives that should be considered simultaneously for the selection of the optimal maintenance policy. The purpose of this research was to develop a bi-objective model that will be used to determine the preventive replacement time for three maintenance policies (age, block good as new, block bad as old) with consideration of spare parts’ availability. It was suggested to use a weighted comprehensive criterion method with two objectives, i.e. cost and availability. The model was tested with a typical numerical example. The results of the model demonstrated its effectiveness in enabling the decision maker to select the optimal maintenance policy under different scenarios and taking into account preferences with respect to contradicting objectives such as cost and availability.