DISCRETE-TIME OPPORTUNISTIC REPLACEMENT POLICIES AND THEIR APPLICATION

T. Dohi, N. Kaio and S. Osaki
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T. Dohi: Department of Information Engineering, Graduate School of Engineering, Hiroshima University, Higashi-Hiroshima-shi 739–8527, Japan
N. Kaio: Department of Economic Informatics, Faculty of Economic Sciences, Hiroshima Shudo University, Hiroshima-shi 731-3195, Japan
S. Osaki: Department of Information and Telecommunication Engineering, Faculty of Mathematical Science and Information Engineering, Nanzan University, Seto-shi 489-0863, Japan

Chapter 6 in Recent Advances in Stochastic Operations Research, 2007, pp 81-100 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractIn this article, we consider discrete-time opportunistic age replacement models with application to a scheduled maintenance problem for a section switch to distribute the electric power. It is shown that a replacement model with three maintenance options can be classified into six models by taking account of priority of maintenance options. Further, we develop new stochastic models with probabilistic priority to unify six models with deterministic priority, and derive the optimal opportunistic age replacement policies minimizing the expected costs per unit time in the steady state. A numerical example with real failure data of section switches is presented.

Keywords: Operations Research; Uncertainty; Applied Probability; Stochastic Process; Optimization; Decision Science (search for similar items in EconPapers)
Date: 2007
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