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Optimal age-replacement model with minimal repair based on cumulative repair cost limit and random lead time

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2 Author(s)
Chien, Y.H. ; Nat. Taichung Inst. of Technol., Taichung ; Chen, J.A.

In this study, we consider an age-replacement model with minimal repair based on a cumulative repair cost limit and random lead time for replacement delivery. A cumulative repair cost limit policy uses information about a system's entire repair cost history to decide whether the system is repaired or replaced; a random lead time models delay in delivery of a replacement once it is ordered. A general cost model is developed for the average cost per unit time based on the stochastic behavior of the assumed system, reflecting the costs of both storing a spare and of system downtime. The minimum-cost policy time is derived, its existence and uniqueness is shown, and structural properties are presented.

Published in:

Industrial Engineering and Engineering Management, 2007 IEEE International Conference on

Date of Conference:

2-4 Dec. 2007

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