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A Note on Optimal Maintenance Policy and Sale Date of a Machine

Author

Listed:
  • S. R. Arora

    (Industrial Engineering Division, University of Minnesota)

  • P. T. Lele

    (Western Electric Company, Princeton, New Jersey)

Abstract

In the paper "Optimal Maintenance Policy and Sale Date of a Machine," Dr. G. L. Thompson [Thompson, G. L. 1968. Optimal maintenance policies and sale date of a machine. Management Sci. 14(9, May) 543-550.] provided a model to interrelate economic life and maintenance policy, using Pontryagin's maximum principle. His results are very interesting, but these can be made more representative of the real life by a simple modification of the deterioration function d(t).

Suggested Citation

  • S. R. Arora & P. T. Lele, 1970. "A Note on Optimal Maintenance Policy and Sale Date of a Machine," Management Science, INFORMS, vol. 17(3), pages 170-173, November.
    • Handle: RePEc:inm:ormnsc:v:17:y:1970:i:3:p:170-173
    DOI: 10.1287/mnsc.17.3.170
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    Cited by:

    1. P F Lesse & J R Roy, 1987. "Optimal Replacement and Maintenance of Urban Infrastructure," Environment and Planning A, , vol. 19(8), pages 1115-1121, August.

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