Abstract
Systems which have to work at or below a maximum acceptable failure rate should be maintained at predetermined points such that the failure rate does not exceed the acceptable level. As the system ages, the post-maintenance failure rate of the system drops to some newer one, unless the system has been replaced, but does not restore the system to the original state. A branching algorithm with effective dominance rules that curtail the number of nodes created is presented; this algorithm determines the number of maintenance interventions before each replacement in order to minimize the total cost over a finite time horizon. The model considers inflationary trends. A numerical example and computational experience are presented. The authors treat the maintenance cost as constant and successive simple-maintenance intervals as decreasing. Though the cost/maintenance is assumed constant, any increasing maintenance cost function could be incorporated. The optimum solutions depend on the constant improvement factor, first simple-maintenance point, rate of increase in acquisition cost, maintenance cost factor, and planning period.< <ETX xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink">></ETX>
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