Abstract
AbstractWe consider a model in which when a device fails it is either repaired to its condition prior to failure or replaced. Moreover, the device is replaced at times kT, k = 1, 2, … The decision to repair or replace the device at failure depends on the age of the device at failure. We find the optimal block time, T0, that minimizes the long‐run average cost of maintenance per unit time. Our results are shown to extend many of the well known results for block replacement policies.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
