Abstract
Simulation methodologies are developed to model the joint optimization of preventive maintenance and spare part inventory for a specific industrial plant under different production configurations. First, spare part provision for a single-line system is considered, with the assumption that the demand is driven by maintenance requirements. The results indicate that a periodic review policy with replenishment as frequent as inspection is cost-optimal. Second, the joint optimization model for a multi-line (parallel) system is developed. It is found that a just-in-time review policy with inspection as frequent as replenishment produces the lowest cost policy. In this latter case, an implication of the proposed methodology is that, where mathematical modeling is intractable, or the use of certain assumptions make them impractical, simulation modeling is an appropriate solution tool. Under both production settings, the long-run average cost per unit time is used as the optimality criterion for the comparison of several policies.
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