Title :
Optimal age-replacement policy with age-dependent minimal-repair and random-leadtime
Author :
Sheu, Shey-Huei ; Griffith, William S.
Author_Institution :
Dept. of Ind. Manage., Nat. Taiwan Univ. of Sci. & Technol., Taipei, Taiwan
fDate :
9/1/2001 12:00:00 AM
Abstract :
A generalized age-replacement policy with age-dependent minimal repair and random leadtime is considered. A model is developed for the average cost per unit time and is based on the stochastic behavior of the assumed system and reflects the cost of storing a spare as well as the cost of system downtime. Determination of the minimum-cost policy time is described and illustrated with a numerical example. Because the model and its analysis are general, several existing results are shown to be subsumed by this model
Keywords :
ageing; costing; economics; failure analysis; maintenance engineering; optimisation; reliability; stochastic processes; age-dependent minimal-repair; average cost per unit time; inventory; maintenance; minimum-cost policy time; optimal age-replacement policy; random-leadtime; stochastic behavior; Cost function; Councils; Electric shock; Statistics; Stochastic systems; Technology management;
Journal_Title :
Reliability, IEEE Transactions on
