Optimality of control limit policies in replacement models

Optimality of control limit policies in replacement models

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Article ID: iaor1993102
Country: United States
Volume: 39
Issue: 5
Start Page Number: 685
End Page Number: 697
Publication Date: Aug 1992
Journal: Naval Research Logistics
Authors:
Keywords: maintenance, repair & replacement
Abstract:

The paper studies a class of replacement models for systems subject to deterioration. The objective is to determine an optimal replacement policy that minimizes the average operating costs of the system. The paper uses a parametric analysis to establish sufficient conditions for the optimality of control limit policies. This work generalizes several existing results for optimal replacement models in the literature.

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