A bivariate optimal replacement policy for a system subject to a generalized failure and repair process

Hyunju Lee and Ji Hwan Cha

Applied Stochastic Models in Business and Industry, 2019, vol. 35, issue 3, 637-650

Abstract: Traditionally, in the studies of the optimal maintenance policies for repairable systems, the nonhomogeneous Poisson process model, which corresponds to the minimal repair process, has been intensively applied. However, in many practical situations, the repair type is not necessarily minimal. In this article, a new repair process based on a new counting process model (so‐called the generalized Polya process) is introduced. Then, the issue of the optimal replacement problem is discussed. A bivariate preventive replacement policy is developed and the properties of the optimal policy are studied. Illustrative examples are also presented. In addition, a comparison with a conventional replacement policy is performed.

Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://doi.org/10.1002/asmb.2356

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wly:apsmbi:v:35:y:2019:i:3:p:637-650

Access Statistics for this article

More articles in Applied Stochastic Models in Business and Industry from John Wiley & Sons
Bibliographic data for series maintained by Wiley Content Delivery ().