Developing an optimal repair‐replacement strategy for pallets

Christoph Haehling Von Lanzenauer and Don D. Wright

Naval Research Logistics Quarterly, 1978, vol. 25, issue 1, 169-178

Abstract: A Markovian model is presented for the development of an optimal repair‐replacement policy for the situation requiring a decision only at failure. The problem is characterized by the presence of growth which is integrated into the formulation. The model is applied to an actual problem, with data analysis and results given. Substantial savings are indicated.

Date: 1978
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Persistent link: https://EconPapers.repec.org/RePEc:wly:navlog:v:25:y:1978:i:1:p:169-178

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