Study On Multi-period Preventive Maintenance Policy For Leased Equipment Based On Virtual Age Method

With the continuous refinement of the social division of labor,companies are fighting hard to achieve the development ofdecentralization. On one hand, the precision and update frequencyincreases and as a result the return on the purchase of equipment falldown, so more and more companies choose to lease equipment to reducethe investment. On another hand, the difficulty of equipmentmaintenance increases and self-maintenance is often accompanied by alarge number of inputs, so it’s better choice to outsource the equipmentmaintenance. In this trend, the lessor often provides preventivemaintenance service while leasing equipment. As the consequence, theresearch of the maintenance policy of leasing equipment has greatpractical significance.From the perspective of the lessor, choosing the leasing equipmentas the research object, this paper conducted in-depth study on themaintenance policy of the leasing equipment. Specific details go asfollows: Firstly, the ways of modeling the effect of the leased equipmentmaintenance are discussed and compared, and two models of reductionthe percentage of the virtual age were set up and their feasibility isverified by the numerical example. Secondly, a preventive maintenancepolicy is proposed for the leased equipment based on virtual age theory, considering various influencing factors existing in the leasing environment.These factors include equipment depreciation, failure penalty, rentalincome etc.. The optimal preventive maintenance policy is obtained bymaximizing the profit margins from the lessor’s point. Finally, a numericalexample is given to validate the proposed policy. Finally, to overcome thedeficiencies of the two common maintenance policies, a multi-phaseequal-cycle maintenance strategy based on virtual age theory for theleased equipment is proposed. The optimal preventive maintenancepolicy is obtained by minimizing the maintenance costs from the lessor’spoint. Finally, a numerical example is illustrated and a comparison withother strategies is given to validate the proposed policy.This paper fully explored the various characteristics of the preventivemaintenance of the leasing equipment. The preventive maintenancemodel set in this paper can effectively help the lessors to improve themaintenance efficiency of leasing equipment and can make a reference inthe decision-making of the preventive maintenance policy of the leasingindustry.