Volume 34, Number 2, April June 2000
|Page(s)||145 - 154|
|Published online||15 August 2002|
An Extended Opportunity-Based Age Replacement Policy
Jurusan Teknik Industri,
Institut Teknologi Bandung, Bandung 40132, Indonesia.
2 Department of Information & Management Science, University of Marketing & Distribution Sciences, Kobe-shi 651-2188, Japan.
The present study proposes an extended opportunity-based age replacement policy where opportunities occur according to a Poisson process. When the age, x of the system satisfies x < S for a prespecified value S, a corrective replacement is conducted if the objective system fails. In case x satisfies S ≤ x < T for another prespecified value T, we take an opportunity to preventively replace the system by a new one with probability p, and do not take the opportunity with probability 1 - p. At the moment x reaches T, a preventive replacement is executed independently of opportunities. The long-term average cost of the proposed policy is formulated. The conditions under which optimal values for S and T exist for a prespecified value of T and S, respectively, are then clarified. Numerical examples are also presented to illustrate the theoretical underpinnings of the proposed replacement policy formulation.
Key words: Extended opportunity-based age replacement / renewal reward process / long-term average cost / optimal policy.
© EDP Sciences, 2000
Current usage metrics show cumulative count of Article Views (full-text article views including HTML views, PDF and ePub downloads, according to the available data) and Abstracts Views on Vision4Press platform.
Data correspond to usage on the plateform after 2015. The current usage metrics is available 48-96 hours after online publication and is updated daily on week days.
Initial download of the metrics may take a while.