Abstract
AbstractThis article defines optimal replacement policies for identical components performing different functions in a given system, when more than one spare part is available. The problem is first formulated for two components and any number of spare parts and the optimal replacement time y(x) at time x is found to have a certain form. Sufficient conditions are then provided for y(x) to be a constant y* for x > y*, and y(x) = x for x > y* (single‐critical‐number policy). Under the assumption that the optimal policies are of the single‐critical‐number type, the results are extended to the n‐component case, and a theorem is provided that reduces the required number of critical numbers. Finally, the theory is applied to the case of the exponential and uniform failure laws, in which single‐critical‐number policies are optimal, and to another failure law in which they are not.
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