A modified block replacement policy

Menachem Berg and Benjamin Epstein

Naval Research Logistics Quarterly, 1976, vol. 23, issue 1, 15-24

Abstract: A well known preventive replacement policy is the block replacement policy (BRP). In such a policy the item undergoes a planned replacement at a sequence of equally spaced time points independent of failure history. The main advantage of a BRP is its simplicity, because under this policy it is unnecessary to keep detailed records about times of failures or ages of items. The main drawback of a BRP is that at planned replacement times we may be replacing practically new items. In this paper we study a modified BRP which is free of this drawback. We calculate the expected cost of following a modified BRP for lifetime distributions possessing a special structure and illustrate it for the case of an Erlang distribution. A numerical comparison is made between a modified BRP and a standard BRP for the special case of a two stage Erlang distribution.

Date: 1976
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Persistent link: https://EconPapers.repec.org/RePEc:wly:navlog:v:23:y:1976:i:1:p:15-24

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