Joint optimal inventory control and preventive maintenance policy with stochastic demand

Joint optimal inventory control and preventive maintenance is a rich area of academic research that is still in its infancy and has the potential to affect manufacturing systems' performance. Also, due to uncertainties in demand, maintenance and inventory loss are virtually unavoidable. Therefore, determining the optimal amount of inventory storage, the time to create an additional inventory for storage, and the time of maintenance operations is a concern of many manufacturers. In this paper, a joint optimization model has been developed. In which, for the proximity of reality, demand is considered as an uncertain parameter. The strategy is such that the production component is placed under maintenance as soon as it reaches the level or in the event of a malfunction earlier than , stopped system and placed under maintenance and repairs. Inventory of period with level is created, which during maintenance operations, stochastic demand will be provided. Finally, a model for joint optimization of maintenance and inventory control with random failure is used that minimize the cost and create the maximum level of accessibility. A numerical study is conducted to show the effectiveness and applicability of the proposed integrated model. An accurate algorithm is provided to solve the model. The results show that the model is generally sensitive to the cost.