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Technical Note—Optimal Readjustment Intervals

Author

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  • M. R. Wolff

    (The University of Bonn, Bonn, Germany)

  • R. Subramanian

    (The University of Bonn, Bonn, Germany)

Abstract

This note considers systems subject to stochastic initial runtime cost immediately after a renewal and a deterministically increasing operating cost rate thereafter. The problem of establishing the cost-optimal renewal rule is generally set up as a readjustment problem. Using renewal-theoretic results, the note formulates and solves the general readjustment problem for self-contained systems. In the case of a linear cost rate, it gives the complete solution.

Suggested Citation

  • M. R. Wolff & R. Subramanian, 1974. "Technical Note—Optimal Readjustment Intervals," Operations Research, INFORMS, vol. 22(1), pages 191-197, February.
    • Handle: RePEc:inm:oropre:v:22:y:1974:i:1:p:191-197
    DOI: 10.1287/opre.22.1.191
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