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Periodic replacement policies with shortage and excess costs

Author

Listed:
  • Xufeng Zhao

    (Nanjing University of Aeronautics and Astronautics)

  • Mingchih Chen

    (Fu Jen Catholic University)

  • Toshio Nakagawa

    (Aichi Institute of Technology)

Abstract

It has been proposed that if replacement time is planned too early prior to failure, a waste of operation cost, i.e., excess costs, would incur because the system might run for an additional period of time to complete critical operations, and if replacement time is too late after failure, a great failure cost, i.e., shortage cost, is incurred due to the delay in time of the carelessly scheduled replacement. In order to make the preventive replacement policies perform in a more general way, the above two variable types of costs are taken into considerations for periodic replacement policies in this paper. We firstly take up a standard model in which the unit is replaced preventively at periodic times. Secondly, the modeling approaches of whichever occurs first and last are applied into periodic and random models, and replacement first and last policies are discussed to find optimum periodic replacement times for a random working time. Furthermore, optimum working numbers are obtained for the extended models. We give analytical discussions of the above replacement policies, and finally, numerical examples are illustrated.

Suggested Citation

  • Xufeng Zhao & Mingchih Chen & Toshio Nakagawa, 2022. "Periodic replacement policies with shortage and excess costs," Annals of Operations Research, Springer, vol. 311(1), pages 469-487, April.
    • Handle: RePEc:spr:annopr:v:311:y:2022:i:1:d:10.1007_s10479-020-03566-z
    DOI: 10.1007/s10479-020-03566-z
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    References listed on IDEAS

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    1. Zhao, Xufeng & Chen, Mingchih & Nakagawa, Toshio, 2016. "Replacement policies for a parallel system with shortage and excess costs," Reliability Engineering and System Safety, Elsevier, vol. 150(C), pages 89-95.
    2. Xufeng Zhao & Toshio Nakagawa, 2018. "Advanced Maintenance Policies for Shock and Damage Models," Springer Series in Reliability Engineering, Springer, number 978-3-319-70456-2, June.
    3. Sheu, Shey-Huei & Liu, Tzu-Hsin & Zhang, Zhe-George & Tsai, Hsin-Nan, 2018. "The generalized age maintenance policies with random working times," Reliability Engineering and System Safety, Elsevier, vol. 169(C), pages 503-514.
    4. Chin-Chih Chang & Yen-Luan Chen, 2019. "Optimization of continuous and discrete scheduled times for a cumulative damage system with age-dependent maintenance," Communications in Statistics - Theory and Methods, Taylor & Francis Journals, vol. 48(17), pages 4261-4277, September.
    5. Sheu, Shey-Huei & Liu, Tzu-Hsin & Zhang, Zhe-George, 2019. "Extended optimal preventive replacement policies with random working cycle," Reliability Engineering and System Safety, Elsevier, vol. 188(C), pages 398-415.
    6. Joachim Arts & Rob Basten, 2018. "Design of multi-component periodic maintenance programs with single-component models," IISE Transactions, Taylor & Francis Journals, vol. 50(7), pages 606-615, July.
    7. Toshio Nakagawa, 2014. "Random Maintenance Policies," Springer Series in Reliability Engineering, Springer, edition 127, number 978-1-4471-6575-0, June.
    8. Mingchih Chen & Xufeng Zhao & Toshio Nakagawa, 2019. "Replacement policies with general models," Annals of Operations Research, Springer, vol. 277(1), pages 47-61, June.
    9. Toshio Nakagawa, 2008. "Advanced Reliability Models and Maintenance Policies," Springer Series in Reliability Engineering, Springer, number 978-1-84800-294-4, June.
    10. Dae‐Kyung Kim & Jae‐Hak Lim & Dong Ho Park, 2015. "Optimal maintenance level for second‐hand product with periodic inspection schedule," Applied Stochastic Models in Business and Industry, John Wiley & Sons, vol. 31(3), pages 349-359, May.
    11. Hamidi, Maryam & Szidarovszky, Ferenc & Szidarovszky, Miklos, 2016. "New one cycle criteria for optimizing preventive replacement policies," Reliability Engineering and System Safety, Elsevier, vol. 154(C), pages 42-48.
    12. Yen-Luan Chen, 2019. "Optimal scheduling replacement policies for a system with multiple random works," Communications in Statistics - Theory and Methods, Taylor & Francis Journals, vol. 48(3), pages 676-688, February.
    13. Zhao, Xufeng & Nakagawa, Toshio, 2012. "Optimization problems of replacement first or last in reliability theory," European Journal of Operational Research, Elsevier, vol. 223(1), pages 141-149.
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    Cited by:

    1. Junyuan Wang & Xufeng Zhao & Jiawei Xiang, 2024. "Optimum design and replacement policies for k-out-of-n systems with deviation time and cost," Annals of Operations Research, Springer, vol. 340(1), pages 593-617, September.
    2. Zhou, Yu & Zheng, Ran, 2024. "Capacity-based daily maintenance optimization of urban bus with multi-objective failure priority ranking," Reliability Engineering and System Safety, Elsevier, vol. 244(C).
    3. Shey-Huei Sheu & Tzu-Hsin Liu & Wei-Teng Sheu & Yu-Hung Chien & Zhe-George Zhang, 2024. "Extended replacement policy for a system under shocks effect," Annals of Operations Research, Springer, vol. 340(1), pages 507-530, September.

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