Inspection--Maintenance--Replacement Schedules Under Markovian Deterioration

Morton Klein
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Morton Klein: Columbia University

Management Science, 1962, vol. 9, issue 1, 25-32

Abstract: A problem of finding optimal policies for the management of systems whose deterioration can be expressed as a Markov chain is considered. Using methods due to Manne and Derman for sequential decision problems involving average cost per unit time criteria, it is shown that the problem can be formulated in linear programming terms.

Date: 1962
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