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Erschienen in:
2000 | OriginalPaper | Buchkapitel
A General Framework for Analyzing Maintenance Policies
verfasst von : V. Makis, X. Jiang, A. K. S. Jardine, K. Cheng
Erschienen in: Maintenance, Modeling and Optimization
Verlag: Springer US
Enthalten in: Professional Book Archive
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In this article, we will show how to use the optimal stopping framework for the formulation and analysis of a wide class of maintenance decision problems. The necessary mathematical background from martingale dynamics and the optimal stopping theory is summarized and the approach is illustrated by analyzing a general repair/replacement model. The model includes many models considered previously in the research literature as special cases. The structure of the optimal policy is obtained under both the average and the discounted cost criteria. An algorithm for finding the optimal policy is presented for the average cost case and a numerical example is given to illustrate the algorithm.