Preventive Maintenance Interval Prediction: a Spare Parts Inventory Cost and Lost Earning Based Model

  • O. A. Adebimpe Department of Industrial and Production Engineering, University of Ibadan, Nigeria
  • V. Oladokun Department of Industrial and Production Engineering, University of Ibadan, Nigeria
  • O. E. Charles-Owaba Department of Industrial and Production Engineering, University of Ibadan, Nigeria

Abstract

In this paper, some preventive maintenance parameters in manufacturing firms were identified and used to develop cost based functions in terms of machine preventive maintenance. The proposed cost based model considers system’s reliability, cost of keeping spare parts inventory and lost earnings in deriving optimal maintenance interval. A case of a manufacturing firm in Nigeria was observed and the data was used to evaluate the model.

Keywords: Preventive Maintenance, Maintenance Cost, Spare Parts Inventory

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