Age replacement policy in the case of no data: the effect of Weibull parameter estimation
Peer reviewed, Journal article
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Original versionInternational Journal of Production Research. 2019, . 10.1080/00207543.2019.1660824
Age replacement is a common maintenance policy when wear-out failures occur, and it is characterised by periodic replacement of components. Data on time to failure (TTF), often modelled with the Weibull function, are necessary for estimating optimal replacement intervals to minimise the total maintenance costs. In many cases, such as new components, new machines or new installations, no TTF data are available, so the Weibull parameters and optimal replacement interval cannot be estimated. To overcome this problem, these parameters can be assessed from the experience of the maintenance engineers and technicians. The aim of this study is investigating the relationship between the error in parameter estimation and additional maintenance costs related to this error. Analysis of variance (ANOVA) and multifactorial analysis are carried out for investigating the influence of these estimations on the final costs. Economic decision maps are introduced for supporting maintenance engineering in defining the maintenance policy with minimal additional cost in the case of no data being available. The analysis shows that, when no data are available, the application of the age replacement policy can result in a global saving of more than 50% compared with corrective maintenance.