Abstract
This paper offers a modeling methodology to evaluate similar systems’ performance and optimize system effectiveness with customized maintenance plans. This strategy, which combines regeneration point techniques with semi-Markov processes, is used to assess a plate manufacturing company’s system. Key insights are obtained using a thorough cost-benefit analysis that includes numerical analysis, graphical interpretations, and system efficacy indicators. The study clarifies the dynamics of the system’s reliability under different repair rates by showing an inverse relationship between Mean Time to System Failures (MTSF) and failure rate. Additionally, the analysis clarifies how profit is affected by failure rate, highlighting the necessity of efficient maintenance plans from an economic standpoint. This research highlights the growing significance of availability and dependability in technology-driven sectors and emphasizes the need for dependable systems. This paper makes a substantial contribution to the knowledge already available in the field of reliability engineering by providing a thorough framework that combines regeneration point approaches and semi-Markov processes. The metrics that are obtained offer a comprehensive understanding of the behavior of the system, which in turn helps industry practitioners make well-informed decisions.
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