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Mathematical Problems in Engineering
Volume 2015, Article ID 274530, 14 pages
http://dx.doi.org/10.1155/2015/274530
Research Article

A Decision Optimization Model for Leased Manufacturing Equipment with Warranty under Forecasting Production/Maintenance Problem

1Laboratoire de Génie Industriel, de Production et de Maintenance, Université de Lorraine, 57045 Metz, France
2ICN Business School, 13 rue Michel Ney, 54000 Metz-Nancy, France
3Automated Production Engineering Department, Production System Design and Control Laboratory, Éecole de Technologie Supérieure, University of Québec, 1100 Notre Dame Street West, Montreal, QC, Canada H3C 1K3

Received 2 July 2014; Revised 24 September 2014; Accepted 24 September 2014

Academic Editor: Shaomin Wu

Copyright © 2015 Zied Hajej et al. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.

Abstract

Due to the expensive production equipment, many manufacturers usually lease production equipment with a warranty period during a finite leasing horizon, rather than purchasing them. The lease contract contains the possibility of obtaining an extended warranty for a given additional cost. In this paper, based on the forecasting production/maintenance optimization problem, we develop a mathematical model to study the lease contract with basic and extended warranty based on win-win relationship between the lessee and the lessor. The influence of the production rates in the equipment degradation consequently on the total cost by each side during the finite leasing horizon is stated in order to determine a theoretical condition under which a compromise-pricing zone exists under different possibilities of maintenance policies.