Optimal Preventive Maintenance Policy with Consideration of Production Wait

In this paper, we consider the replacement of a single unit with catastrophic failure mode. Besides replaced at a preset time, the unit is also replaced at failure time or if it encounters a production wait and its age has reached a threshold. The joint preventive maintenance interval and threshold optimization problem are formulated with the objective of minimizing the expected cost per unit time in long run. A numerical example is presented to illustrate the applicability of the model.