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On the Marginal Cost Approach in Maintenance

Author

Listed:
  • J. B. G. Frenk

    (Erasmus University)

  • R. Dekker

    (Erasmus University)

  • M. J. Kleijn

    (Erasmus University)

Abstract

In this paper we investigate the conditions under which the marginal cost approach of Refs. 1–3 holds. As observed in Ref. 4, the validity of the marginal cost approach gives rise to a useful framework of single-component maintenance optimization models, which covers almost all models used in practice. For the class of unimodal finite-valued marginal cost functions, we show that these optimization models are easy to solve.

Suggested Citation

  • J. B. G. Frenk & R. Dekker & M. J. Kleijn, 1997. "On the Marginal Cost Approach in Maintenance," Journal of Optimization Theory and Applications, Springer, vol. 94(3), pages 771-781, September.
    • Handle: RePEc:spr:joptap:v:94:y:1997:i:3:d:10.1023_a:1022621621633
    DOI: 10.1023/A:1022621621633
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    References listed on IDEAS

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    1. Berg, Menachem P., 1995. "The marginal cost analysis and its application to repair and replacement policies," European Journal of Operational Research, Elsevier, vol. 82(2), pages 214-224, April.
    2. Hans Frenk & Rommert Dekker & Marcel Kleijn, 1997. "A unified treatment of single component replacement models," Mathematical Methods of Operations Research, Springer;Gesellschaft für Operations Research (GOR);Nederlands Genootschap voor Besliskunde (NGB), vol. 45(3), pages 437-454, October.
    3. Dekker, Rommert, 1995. "Integrating optimisation, priority setting, planning and combining of maintenance activities," European Journal of Operational Research, Elsevier, vol. 82(2), pages 225-240, April.
    Full references (including those not matched with items on IDEAS)

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