6. Conclusions and future research
In this research, a new multi-objective nonlinear mixed-integer optimization model to determine Pareto-optimal preventive main- tenance and replacement schedules for a repairable production system is presented. In order to solve the multi-objective model, a Monte Carlo simulation procedure integrated with goal program- ming method is proposed. The model and the solution technique is found to be an effective approach in solving preventive maintenance and replacement planning problems encountered in manufacturing systems. The method identifies non-dominated solutions close the true Pareto optimal front and uniformly distributed over the objectives space capturing the existing trade-off among different objective functions. Such a modeling approach and proposed solution method will be useful for maintenance planners and engineers tasked with the problem of developing recommended maintenance plans for complex productions systems.