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Optimal periodical time for preventive replacement based on a cumulative repair-cost limit and random lead time

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  • Y-H Chien
  • C-C Chang
  • S-H Sheu

Abstract

This paper considers and extends the preventive replacement model with a cumulative repair-cost limit policy by introducing the 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. Long-run expected cost per unit time is formulated, and the optimal scheduled time for preventive replacement minimizing that cost is derived. Existence and uniqueness of that optimal time are shown, and the structural properties are presented. Various special cases are included and compared, and a numerical example is demonstrated.

Suggested Citation

  • Y-H Chien & C-C Chang & S-H Sheu, 2009. "Optimal periodical time for preventive replacement based on a cumulative repair-cost limit and random lead time," Journal of Risk and Reliability, , vol. 223(4), pages 333-345, December.
    • Handle: RePEc:sae:risrel:v:223:y:2009:i:4:p:333-345
    DOI: 10.1243/1748006XJRR258
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    References listed on IDEAS

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    1. Shey-Huei Sheu & Griffith, William S. & Toshio Nakagawa, 1995. "Extended optimal replacement model with random minimal repair costs," European Journal of Operational Research, Elsevier, vol. 85(3), pages 636-649, September.
    2. Sheu, Shey-Huei & Chien, Yu-Hung, 2004. "Optimal age-replacement policy of a system subject to shocks with random lead-time," European Journal of Operational Research, Elsevier, vol. 159(1), pages 132-144, November.
    3. Nakagawa, Toshio & Kowada, Masashi, 1983. "Analysis of a system with minimal repair and its application to replacement policy," European Journal of Operational Research, Elsevier, vol. 12(2), pages 176-182, February.
    4. Shey‐Huei Sheu & William S. Griffith, 1996. "Optimal number of minimal repairs before replacement of a system subject to shocks," Naval Research Logistics (NRL), John Wiley & Sons, vol. 43(3), pages 319-333, April.
    5. Chien, Yu-Hung & Sheu, Shey-Huei, 2006. "Extended optimal age-replacement policy with minimal repair of a system subject to shocks," European Journal of Operational Research, Elsevier, vol. 174(1), pages 169-181, October.
    6. R. Cléroux & S. Dubuc & C. Tilquin, 1979. "The Age Replacement Problem with Minimal Repair and Random Repair Costs," Operations Research, INFORMS, vol. 27(6), pages 1158-1167, December.
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