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A Generalized Age-Replacement Model

Published online by Cambridge University Press:  27 July 2009

Stephan G. Vanneste
Stephan G. Vanneste
Affiliation:
Tilburg University, P.O. Box 90153 5000 LE Tilburg, The Netherlands
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Abstract

Four practically important extensions of the classical age-replacement problem are analyzed using Markov decision theory: (1) opportunity maintenance, (2) imperfect repair, (3) non-zero repair times, and (4) Markov degradation of the working unit. For this general model, we show that the optimal maintenance policy is of the control limit type and that the average costs are a unimodal function of the control limit. An efficient optimization procedure is provided to find the optimal policy and its average costs. The analysis extends and unifies existing results.

Type
Articles
Information
Probability in the Engineering and Informational Sciences , Volume 6 , Issue 4 , October 1992 , pp. 525 - 541
Copyright
Copyright © Cambridge University Press 1992

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