Abstract
AbstractMost maintenance and replacement models for industrial equipment have been developed for independent single‐component machines. Most equipment, however, consists of multiple components. Also, when the maintenance crew services several machines, the maintenance policy for each machine is not independent of the states of the other machines.In this paper, two dynamic programming replacement models are presented. The first is used to determine the optimal replacement policy for multi‐component equipment. The second is used to determine the optimal replacement policy for a multi‐machine system which uses one replacement crew to service several machines. In addition, an approach is suggested for developing an efficient replacement policy for a multi‐component, multi‐machine system.
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