Influence of the inspection cost on the reliability and robustness of maintenance strategies Using Monte Carlo approach

This article addresses the dynamic business environment, where enterprises grapple with diverse maintenance strategies, necessitating strategic decisions for integration. The focus is on innovative strategies that enhance both Reliability and robustness, ensuring sustained viability and a strategic advantage. Introducing a new criterion integrating the long-term expected maintenance cost rate, the standard deviation of the Maintenance cost per renewal cycle (MCPRC), and the relative weight of the cost variability, the study employs a rigorous Monte Carlo simulation approach using Matlab . The exploration begins with an overview of cost criteria in scholarly literature, providing a foundation for subsequent evaluation methodologies in maintenance strategies. Spotlighting the Inspection Cost, the article analyzes Reliability and Robustness metrics in Condition-Based Maintenance (CBM) and Time-Based Maintenance (TBM) strategies . The conclusion synthesizes theoretical foundations, methodological intricacies, and practical implications, emphasizing the enduring significance of insights for the nuanced optimization of TBM and CBM strategies in industrial maintenance.