A multi-objective modelling approach to assess the impact of maintenance scheduling on equipment procurement methods

Abstract

In this research, a new multi-objective optimisation model is developed from equipment user's point of view who is seeking to select from among the buy/lease/upgrade decisions and maintenance schedule options when the equipment performance criteria and total cost are in consideration. The proposed model determines the possible non-dominated physical asset management (AM) strategies by interconnecting procurement parameters, maintenance scheduling variables, and equipment's working historical data. Total operational cost, the equipment reliability and unavailability are the objectives of the model which is solved using NSGA-II. Each of the achieved strategies consists of a procurement method (buy/lease/upgrade) and a maintenance strategy (PM degree, PM interval and upgrade level). The model is applied to a specific equipment to determine non-dominated asset management strategies for a specified time horizon in a copper mine. The results show that by managing maintenance variables, the decision maker is capable of choosing a proper procurement strategy to the organisation from among various equivalent AM strategies.