Condition‐based preventive maintenance with a yield rate threshold for deteriorating repairable systems.

Repairable systems deteriorate with age and usage. In order to maintain acceptable reliability and prevent sudden failures, preventive maintenance (PM) is often applied to such systems. Scheduled PM actions can improve system availability and minimize losses due to breakdowns and failures. However, condition‐based PM is considered more relevant to system status than age‐based PM for deteriorating repairable systems. In this study, we consider the production yield rate as the condition variable when determining the optimal PM schedule. A non‐homogeneous Poisson process is used to describe the system deterioration, and the concept of system effective (virtual) age is also considered to make the proposed model more realistic. Three different condition‐based PM strategies are presented to provide more diverse choices for decision makers in terms of solving problems based on the situation at hand. The results show that the optimal yield rate threshold can reduce system failure while maintaining acceptable system availability and product quality with affordable costs due to a proper PM schedule. Furthermore, the results of the numerical application showed that the maintenance and penalty costs are the most sensitive to the total cost, where the adoption of the proposed PM strategies are more profitable when related costs are low. [ABSTRACT FROM AUTHOR]