Optimality of control limit policies in replacement models

Kut C. So

Naval Research Logistics (NRL), 1992, vol. 39, issue 5, 685-697

Abstract: We study a class of replacement models for systems subject to deterioration. The objective is to determine an optimal replacement policy that minimizes the average operating costs of the system. We use a parametric analysis to establish sufficient conditions for the optimality of control limit policies. This work generalizes several existing results for optimal replacement models in the literature. © 1992 John Wiley & Sons, Inc.

Date: 1992
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Citations: View citations in EconPapers (4)

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https://doi.org/10.1002/1520-6750(199208)39:53.0.CO;2-R

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Persistent link: https://EconPapers.repec.org/RePEc:wly:navres:v:39:y:1992:i:5:p:685-697

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