Optimal Preventive Maintenance of Two-phase Maintenance Policy for Leased Product

In this paper, we investigate two dimensional leased contracts for a dump truck operated in a mining industry. To keep the truck in a good operational condition, an imperfect preventive maintenance (PM) policy is applied. When the truck fails then corrective maintenance (CM) is done. PM and/or CM can be leased to an external agent or a lessor for an economic reason. The situation under study is that the lessor offers two dimensional leased contract to the owner of the trucks or the lessee. For repairable leased product, two maintenance models are proposed: (i) maintenance policy of single-phase and (ii) maintenance policy of two-phase. Under these maintenance schemes, the mathematical models of the expected total cost for maintenance policies of single-phase and two-phase are established, the lessor’s decision problem has to select the optimal PM degree according to various usage pattern and the operational condition that minimizes the expected total cost. Finally, the features of the optimal maintenance policy are illustrated through numerical examples.