Paper Info
Title
On a new age-replacement policy for items with observed stochastic degradation.
Abstract
A new methodology for preventive maintenance of degrading items is discussed. It combines the classical age-replacement strategy when a system is replaced either on failure or on reaching the predetermined age, with replacement on reaching the predetermined level of deterioration at some intermediate time. Degradation of an item is modeled by the nonhomogeneous gamma process, whereas its failure occurs when this process reaches the predetermined deterministic level. It is shown that the proposed policy outperforms the classical one, i.e., it achieves the lower value of the corresponding long-run cost rate. The detailed numerical illustration is presented, and the relevant sensitivity analysis for the main parameters of the model is performed.
Year
DOI
Venue
2020
10.1002/qre.2619
QUALITY AND RELIABILITY ENGINEERING INTERNATIONAL
Keywords
DocType
Volume
age replacement,gamma process,gradual failure,long-run cost rate,preventive maintenance
Journal
36.0
Issue
ISSN
Citations 
3.0
0748-8017
0
PageRank 
References 
Authors
0.34
0
3
Name
Order
Citations
PageRank
Maxim Finkelstein123341.24
Ji Hwan Cha215926.28
Gregory Levitin31422115.34