An Optimal Decision Rule for Repair vs Replacement
- 1 August 1977
- journal article
- Published by Institute of Electrical and Electronics Engineers (IEEE) in IEEE Transactions on Reliability
- Vol. R-26 (3) , 179-181
- https://doi.org/10.1109/tr.1977.5220108
Abstract
This paper presents a policy for either repairing or replacing a system that has failed. The policy applies to systems whose mean residual life function is decreasing. An optimal policy is developed that minimizes the cost per unit time for repair and replacement. Results are shown graphically for a particular distribution of time to failure and are motivated in terms of an automobile replacement problem.Keywords
This publication has 3 references indexed in Scilit:
- A survey of maintenance models: The control and surveillance of deteriorating systemsNaval Research Logistics Quarterly, 1976
- Maintenance Policies for Stochastically Failing Equipment: A SurveyManagement Science, 1965
- Optimum Preventive Maintenance PoliciesOperations Research, 1960