Abstract
The optimal minimal-repair and replacement problem of a reliability system under the average cost criterion is formulated as a semi-Markov decision process, and it is shown that there is a (t,T)-policy which is optimal among all allowable policies, under the assumption that the failure rate of the system monotonically increases to infinity. A (t,T)-policy implies that a failure before age t is minimally repaired, but the system is replaced when age T is reached or when the first failure after age t occurs whichever comes first.
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 callMore From: Journal of the Operations Research Society of Japan
Disclaimer: 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.
