Optimal Scheduling of Fallible Inspections

Giovanni Parmigiani
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Giovanni Parmigiani: Duke University, Durham, North Carolina

Operations Research, 1996, vol. 44, issue 2, 360-367

Abstract: This paper gives the exact optimal solution to the problem of designing inspection schedules with fallible and time-consuming test procedures. The optimality criterion is designed to achieve a balance between the cost of inspections and the cost of undetected failure. The solution is derived in continuous time, with arbitrary failure distribution, and is based on infinite-horizon dynamic programming with time-dependent utilities, and with an additional optimization with respect to initial conditions. Results include uniqueness and monotonicity properties of the optimal solution, as well as computational algorithms.

Keywords: decision analysis: applications; sequential; programming: infinite dimensional; reliability: failure models; inspections (search for similar items in EconPapers)
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:inm:oropre:v:44:y:1996:i:2:p:360-367

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