Age replacement policy based on imperfect repair with random probability

J.H. Lim, Jian Qu and Ming J. Zuo

Reliability Engineering and System Safety, 2016, vol. 149, issue C, 24-33

Abstract: In most of literatures of age replacement policy, failures before planned replacement age can be either minimally repaired or perfectly repaired based on the types of failures, cost for repairs and so on. In this paper, we propose age replacement policy based on imperfect repair with random probability. The proposed policy incorporates the case that such intermittent failure can be either minimally repaired or perfectly repaired with random probabilities. The mathematical formulas of the expected cost rate per unit time are derived for both the infinite-horizon case and the one-replacement-cycle case. For each case, we show that the optimal replacement age exists and is finite.

Keywords: Age replacement policy; Minimal repair; Bayesian imperfect repair model; Expected cost rate per unit time (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (13)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:reensy:v:149:y:2016:i:c:p:24-33

DOI: 10.1016/j.ress.2015.10.020

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