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Inspection and replacement policies

Published online by Cambridge University Press:  14 July 2016

Dror Zuckerman
Dror Zuckerman*
Affiliation:
The Hebrew University
*
∗Present address: Graduate School of Management, MEDS Department, Northwestern University, Evanston, Illinois 60201, U.S.A.
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Abstract

In this article we examine a breakdown model in which the system's status can be determined only by a test. Upon detection of failure the system must be replaced by a new identical one. The costs incurred include cost of inspection, operating costs, failure cost and a cost associated with planned replacements. Throughout the paper we restrict attention to replacement rules in which the time interval between two successive inspections is regarded as a fixed quantity. The decision variables include the inspection interval and the scheduling for preventive (planned) replacements. The problem is to specify a replacement rule which minimizes the long-run average cost per unit time. We show that under certain monotone conditions there is a natural candidate for an optimal replacement rule.

Keywords

REPLACEMENT POLICYOPTIMAL POLICYPLANNED REPLACEMENTSTOPPING TIMEINSPECTION POLICY
Type
Research Papers
Information
Journal of Applied Probability , Volume 17 , Issue 1 , March 1980 , pp. 168 - 177
Copyright
Copyright © Applied Probability Trust 1980 

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