Cost optimal replacement of monotone, repairable systems

Cost optimal replacement of monotone, repairable systems

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Article ID: iaor20001996
Country: Netherlands
Volume: 116
Issue: 2
Start Page Number: 235
End Page Number: 248
Publication Date: Jul 1999
Journal: European Journal of Operational Research
Authors: ,
Abstract:

In this paper we study the optimal replacement problem of a monotone system comprising n components, where the components are ‘minimally’ repaired at failures. The optimality function studied is the long run expected cost per unit of time. Different categories of replacement policies are investigated.

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