Profit and Reliability Analysis of a Gas Production Unit with the Concept of Optimal Age Replacement Policy: A Copula Approach

Sengar Surabhi ()
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Sengar Surabhi: Member, 436188 Indian Mathematical Society , Pune, India

Stochastics and Quality Control, 2025, vol. 40, issue 1, 1-13

Abstract: This paper presents a comparative study of reliability analysis of a gas production plant, before and after applying optimal age replacement policy for a specific machine. The gas production plant has six machines connected in the series configuration a sulfur (S) shaft, coal pit, reaction furnace, sulfur separation machine, adiabatic reactor, and cooling machine. Here, the optimal age replacement policy has been applied to the cooling machine as this machine is working under a wear-out period, i.e., it has completed its prescribed age (say T) and is still operational. Two different situations have been discussed to analyze the performance variation of the system (i) when the model is working with high risk because the cooling machine is operational even after completion of its prescribed age (ii) when the old cooling machine is replaced by a new one after completing the age, T. The failure of any machine can cause the model failure. Additionally, a situation of employee walkout is also considered a responsible factor for model failure. Supplementary variable technique and copula methodology have been applied to solve the Markov model.

Keywords: Gas Production Process; Multi-State Stochastic Model; Old Age Replacement Policy; Reliability Indices; Supplementary Variable Technique; Profit Analysis (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1515/eqc-2024-0017

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