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- Title
Optimal age-replacement model with age-dependent type of failure and random lead time based on a cumulative repair-cost limit policy.
- Authors
Chien, Yu-Hung; Chang, Chin-Chih; Sheu, Shey-Huei
- Abstract
In this paper, we consider an age-replacement model with minimal repair based on a cumulative repair cost limit and random lead time for replacement delivery. A cumulative repair cost limit policy uses information about a system's entire repair cost history to decide whether the system is repaired or replaced; a random lead time models delay in delivery of a replacement once it is ordered. A general cost model is developed for the average cost per unit time based on the stochastic behavior of the assumed system, reflecting the costs of both storing a spare and of system downtime. The optimal age for preventive replacement minimizing that cost rate is derived, its existence and uniqueness is shown, and structural properties are presented. Various special cases are included, and a numerical example is given for illustration. Because the framework and analysis are general, the proposed model extends several existing results.
- Subjects
MAINTENANCE costs; REPAIR &; maintenance services; REPLACEMENT of industrial equipment; DELIVERY of goods; COST effectiveness; RELIABILITY (Personality trait); STOCHASTIC models
- Publication
Annals of Operations Research, 2010, Vol 181, Issue 1, p723
- ISSN
0254-5330
- Publication type
Article
- DOI
10.1007/s10479-009-0679-0