Optimal Maintenance and Life of Machines, Subject to Time Varying Rate of Depreciation

Somdeb Lahiri

IIMA Working Papers from Indian Institute of Management Ahmedabad, Research and Publication Department

Abstract: In this paper we study the optimal maintenance policy and life of machines with time varying decay rate of quality. Many management problems involve the determination of the life or horizon of an activity in combination with the management of it. We study a particular class of such problems, and obtain solutions for optimal maintenance policies and life of machines.

Date: 1987-09-01
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Persistent link: https://EconPapers.repec.org/RePEc:iim:iimawp:wp00777

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