Research on Virtual Age Based Preventive Maintenance Policy for Leased Equipment

With the boom of leasing industry,providing efficient maintenance services for the leased equipment has become an important way for the lessor to achieve success.A preventive maintenance policy 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 and rental income.In order to control the number of equipment failures,the virtual age recovered each time is set to increase with the raising speed of the equipment failure rate.The optimal preventive maintenance policy is obtained by maximizing the profit margins from the lessor's point.Finally,a numerical example is given to validate the proposed policy.