Optimal policy of continuous and discrete replacement with minimal repair at failure

Toshio Nakagawa

Naval Research Logistics Quarterly, 1984, vol. 31, issue 4, 543-550

Abstract: This article considers combined continuous and discrete replacement with minimal repair at failure, in which a unit is replaced at time T or at number N of uses. Both optimal time T* and number N* to minimize the expected cost rate are discussed. They are found by unique solutions of equations when the hazard rates are monotonously increasing. A numerical example is given.

Date: 1984
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Persistent link: https://EconPapers.repec.org/RePEc:wly:navlog:v:31:y:1984:i:4:p:543-550

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