13.5 Simulation Model for a Maintenance Policy
Simulation is a valuable technique for analyzing various maintenance policies before actually implementing them. A firm can decide whether to add more maintenance staff based on machine downtime costs and costs of additional labor. It can simulate replacing parts that have not yet failed in exploring ways to prevent future breakdowns. Many companies use computerized simulation models to decide if and when to shut down an entire plant for maintenance activities. This section provides an example of the value of simulation in setting maintenance policy.
Three Hills Power Company
The Three Hills Power Company provides electricity ...
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