Abstract
ABSTRACT In this paper, we develop a modified minimal repair/replacement problem which is formulated as a Markov decision process. The operating cost is assumed to be a non-decreasing function of the system's age. A specific maintenance action for a manufacturing system considered here is whether to have a replacement, to minimal repair or to keep it operating. However, the replacement of an improved system is available, which was assumed identical in the literature. This new “improved” system could be different in its lifetime distribution or in its associated costs for repair or replacement. It is shown that a control limit policy, or in particular a (t, T) policy, is optimal over the space of all possible policies under the discounted cost criterion. A two-phase procedure is developed for the optimal (t, T) policy with two types of manufacturing system based on the total expected discounted cost.
Published Version
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