Name
Title | ||
|---|---|---|
An optimal maintenance model for a combination of secondhand–new or outdated–updated system |
Abstract | ||
|---|---|---|
In this paper, we study a general maintenance model. Assume that at the beginning, a secondhand (outdated) system is installed, thereafter it will be replaced by a new (updated) system. Two types of compound maintenance policy are used. A policy (t,T) is to replace the secondhand (outdated) system at time t and replace a new (updated) system at time T; whereas a policy (n,N) is to replace the secondhand (outdated) system at the time of nth failure and replace a new (updated) system at the time of Nth failure. We show that an optimal policy (n∗,N∗) is at least as good as an optimal policy (t∗,T∗). Furthermore, for a monotone process model, by the semi-Markov decision process approach, an optimal policy (n∗,N∗) is determined explicitly for maximizing the total expected discounted reward. |
Year | DOI | Venue |
|---|---|---|
1999 | 10.1016/S0377-2217(98)00369-5 | European Journal of Operational Research |
Keywords | Field | DocType |
Stopping time,Delayed renewal process,Strong Markov property,Semi-Markov decision process,Expected discounted reward | Mathematical optimization,Operations research,Optimal maintenance,Decision process,Stopping time,Mathematics,Operations management,Monotone polygon | Journal |
Volume | Issue | ISSN |
119 | 3 | 0377-2217 |
Citations | PageRank | References |
0 | 0.34 | 1 |
Authors | ||
1 | ||