Article ID: | iaor200764 |
Country: | Netherlands |
Volume: | 143 |
Issue: | 1 |
Start Page Number: | 91 |
End Page Number: | 106 |
Publication Date: | Mar 2006 |
Journal: | Annals of Operations Research |
Authors: | Kumar U. Dinesh, Saranga Haritha |
Keywords: | heuristics, heuristics: genetic algorithms |
Level of repair analysis (LORA) is an approach used during the design stage of complex equipment for analysis of the cost effectiveness of competing maintenance strategies. LORA is carried as a part of the life cycle cost and cost of ownership analysis and plays a significant role in minimizing the life cycle cost and cost of ownership of the capital equipment. Since many purchasing decisions of complex equipment are based on cost of ownership, it has become essential to carry out LORA to compete in the market. In this paper, we develop a mathematical model for LORA and propose a solution methodology based on genetic algorithms. The concept is illustrated using a hypothetical aircraft engine.