An optimal maintenance model for a combination of secondhand–new or outdated–updated system

An optimal maintenance model for a combination of secondhand–new or outdated–updated system

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Article ID: iaor20003326
Country: Netherlands
Volume: 119
Issue: 3
Start Page Number: 739
End Page Number: 752
Publication Date: Dec 1999
Journal: European Journal of Operational Research
Authors:
Keywords: markov processes
Abstract:

In this paper, we study a general maintenance model. Assume that at the beginning, a secondhand (outdated) system is installed, thereafter it will be replaced by a new (updated) system. Two types of compound maintenance policy are used. A policy (t, T) is to replace the secondhand (outdated) system at time t and replace a new (updated) system at time T; whereas a policy (n, N) is to replace the secondhand (outdated) system at the time of nth failure and replace a new (updated) system at the time of Nth failure. We show that an optimal policy (n*, N*) is at least as good as an optimal policy (t*, T*). Furthermore, for a monotone process model, by the semi-Markov decision process approach, an optimal policy (n*, N*) is determined explicitly for maximizing the total expected discounted reward.

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