Title: A facility maintenance scheduling model incorporating opportunity and inflationary costs

Authors: S.A. Oke, A.E. Oluleye, F.A. Oyawale, O.E. Charles-Owaba

Addresses: Department of Mechanical Engineering, University of Lagos, Room 10, Mezzanine Complex, Akoka-Yaba, Nigeria. ' Department of Industrial and Production Engineering, University of Ibadan, Engineering Annex Building, Ibadan, Nigeria. ' Department of Industrial and Production Engineering, University of Ibadan, Engineering Annex Building, Ibadan, Nigeria. ' Department of Industrial and Production Engineering, University of Ibadan, Engineering Annex Building, Ibadan, Nigeria

Abstract: This paper deals with facility maintenance scheduling model which incorporates opportunity and inflationary costs. A case study pertaining to a shipping firm has been defined as transportation models of minimising Maintenance Cost (MC), Maintenance-Inflation Cost (MIC), Maintenance-Opportunity Cost (MOC) and combined Maintenance-Opportunity-Inflation Cost (MOIC). The optimal schedules indicating the ship maintenance, idle and operation periods were deduced for each approach. For all the samples, the costs of the first model were significantly (p < 0.05) different from that of the other three models. To reduce cost and delays, decisions for scheduling maintenance of a fleet of ships would be better informed if based on maintenance and opportunity cost indices in both inflationary and non-inflationary conditions.

Keywords: maintenance costs; opportunity costs; inflation costs; transportation model; shipping fleet; preventive maintenance; scheduling.

DOI: 10.1504/IJISE.2008.017553

International Journal of Industrial and Systems Engineering, 2008 Vol.3 No.4, pp.423 - 466

Available online: 17 Mar 2008 *

Full-text access for editors Access for subscribers Purchase this article Comment on this article