This article aims to analyze strategically optimal maintenance actions for a multi‐component system whose deterioration is observed through a monitoring system set in place to support condition‐based maintenance.
Deterioration of a multi‐component system is modeled by a continuous‐time jump diffusion model which incorporates interaction between the components of the system. A simulation‐based optimization heuristic is developed to obtain strategically optimum maintenance actions. The methodology is applied to an illustrative example.
The article finds that the framework facilitates analyzing at a strategic level the role of degree of response to the deterioration of components for the overall functionality of a multi‐component system. The optimal solution for the illustrative example recommends a provider to perform a variety of opportunistic maintenance.
In this article, a framework is developed to determine strategically optimal maintenance actions for a multi‐component system whose deterioration is observed in real‐time through embedded monitoring units set in place to support condition‐based maintenance (CBM). The framework facilitates analyzing at a strategic level the role of degree of response to the deterioration of components for the overall functionality of a multi‐component system. A strategically optimal maintenance policy can then be enhanced to develop a detailed tactical maintenance strategy. This approach is expected to benefit the management of long‐term service agreements, where a service contract is sold bundled with a product, which makes a provider responsible for maintaining the product over a specified contract period.
Besides a tactical approach for performing maintenance, in order to stay profitable in the long‐run, a decision maker needs to assess the strategic performance of maintenance strategies adopted. This framework is a first attempt to facilitate this analysis at a strategic level for a monitoring‐enabled multi‐component system.
