Optimal replacement policy for a general model with imperfect repair

Optimal replacement policy for a general model with imperfect repair

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Article ID: iaor199342
Country: United Kingdom
Volume: 43
Issue: 2
Start Page Number: 111
End Page Number: 120
Publication Date: Feb 1992
Journal: Journal of the Operational Research Society
Authors: ,
Abstract:

A general model is considered which incorporates imperfect repair and repair cost which depends on time and on the number of repairs in the cycle. This model is an extension of models examined previously in the literature. The objective of this paper is to find the optimal replacement policy and compare it with the replacement policies considered earlier for some variants of this model. The form of the optimal replacement policy is found in the general case and the expected average cost per unit time is derived in two special cases. Numerical examples show that the optimal policy is considerably better than the optimal periodic policy. This paper generalizes and unifies research in the area.

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