Cost Effectiveness of Introducing Standby Into A Production System
- 1 April 1982
- journal article
- Published by Institute of Electrical and Electronics Engineers (IEEE) in IEEE Transactions on Reliability
- Vol. R-31 (1) , 121-122
- https://doi.org/10.1109/tr.1982.5221258
Abstract
A systematic method is proposed to compare the investment in a standby for a crucial equipment in a production system and the anticipated benefits therefrom. The anticipated benefits take into account the cost of repairs, switching, operation, maintenance, and lost production. A method is proposed to identify the most economic mode of operation of the standby system.Keywords
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