JOURNAL OF SHANDONG UNIVERSITY(NATURAL SCIENCE) ›› 2016, Vol. 51 ›› Issue (12): 95-102.doi: 10.6040/j.issn.1671-9352.0.2015.527

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Optimal preventive maintenance policy for second-hand equipment under lease considering residual value

DONG Ke1,2, LÜ Wen-yuan1*, WANG Yong-zhi2   

  1. 1. Business School, University of Shanghai for Science and Technology, Shanghai 200093, China;
    2. School of Economics and Management, Anhui Radio &
    TV University, Hefei 230022, Anhui, China
  • Received:2015-11-09 Online:2016-12-20 Published:2016-12-20

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Abstract: For the lease of the second-hand equipment with certain past age, a periodic preventive maintenance strategy was presented. Several factors from the life cycle of the equipment which influence the profit of the lessor, such as the equipments residual value, age, preventive maintenance, minimal repair and punishment mechanism were considered. Under this maintenance scheme, a mathematical model based on the expected total profit of the lessor was established, and the optimal maintenance policies were derived such that the expected total profit was maximized. The proof was givern to obtain the optimal policy of the model. Finally, in case study, the numerical results show that the proposed strategy is practical and can provide effective maintenance solutions for lessors.

Key words: lease period, preventive maintenance, equipment leasing, residual value, minimal repair

CLC Number: 

  • TP16
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