Comparative Analysis of Heuristic Algorithms Used for Solving a Production and Maintenance Planning Problem (PMPP)

Abstract

In this work, we develop methods to assess the risk of profit–loss resulting from the choice of a computational method for solving a joint production and maintenance-planning problem. In fact, the optimal objective function is calculated via the use of algorithms and optimization methods. The use of these methods can have an impact on an event that can disrupt the optimal production and maintenance plan. To achieve our goals, we start with calculating the manufacturing system’s joint production and maintenance plans over a finite horizon using different methods. In the second part of the work, we propose analytical models to quantify the risk of profit–loss resulting from product returns and the integration of an imperfect maintenance policy. Numerical examples are conducted by adopting the different algorithms used. This study provides insights into the most efficient computational methods for the encountered problems. This research proposes new approaches to help and guide managers in the analysis and evaluation of their decisions.

Keywords

• Lost profit–risk assessment
• stochastic optimization
• production system
• preventive maintenance
• product returns