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Optimal Discrete-Time Periodic Replacement Policy For Repairable Products Under Free Minimal Repair Warranty

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  • FU-MIN CHANG

    (Department of Finance, Chaoyang University of Technology, No. 168, Jifong E. Rd., Wufong Township, Taichung County, 41349, Taiwan)

  • YU-HUNG CHIEN

    (Department of Applied Statistics, National Taichung University of Science and Technology, No. 129, Sec. 3, San-min Rd., North District, Taichung City 40401, Taiwan)

Abstract

This paper presents the effects of a free minimal repair warranty (FMRW) on the periodic replacement policy under discrete operating circumstance. For the discrete-time periodic replacement policy, a product is preventively replaced at pre-specified operation cycles N, 2N, 3N, … (N = 1, 2, …). When the product fails, a minimal repair is performed at the time of failure and the failure rate is not disturbed by each repair. From the customer's perspective, the cost models are developed for both a warranted and a nonwarranted product, and the corresponding optimal periodic replacement policies are derived such that the long-run expected cost rates are minimized. Under the assumption of the discrete time increasing failure rate (IFR), the existence and uniqueness of the optimal N* are shown, and the impacts of a FMRW on the optimal replacement policies are investigated analytically. We found that the optimal N* for a warranted product should be adjusted toward the end of the warranty period.

Suggested Citation

  • Fu-Min Chang & Yu-Hung Chien, 2012. "Optimal Discrete-Time Periodic Replacement Policy For Repairable Products Under Free Minimal Repair Warranty," Asia-Pacific Journal of Operational Research (APJOR), World Scientific Publishing Co. Pte. Ltd., vol. 29(03), pages 1-14.
    • Handle: RePEc:wsi:apjorx:v:29:y:2012:i:03:n:s0217595912400209
    DOI: 10.1142/S0217595912400209
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    References listed on IDEAS

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    1. Toshio Nakagawa, 2005. "Maintenance Theory of Reliability," Springer Series in Reliability Engineering, Springer, number 978-1-84628-221-8, June.
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    Cited by:

    1. Ji Hwan Cha & Maxim Finkelstein, 2022. "A new warranty policy for heterogeneous items subject to monotone degradation processes," Journal of Risk and Reliability, , vol. 236(1), pages 55-65, February.
    2. Cha, Ji Hwan & Finkelstein, Maxim, 2016. "On information-based warranty policy for repairable products from heterogeneous populationAuthor-Name: Lee, Hyunju," European Journal of Operational Research, Elsevier, vol. 253(1), pages 204-215.

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