search query: @author Chen, M. / total: 14
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| Author: | Chen, M. Feldman, R. |
| Title: | Optimal replacement policies with minimal repair and age-dependent costs |
| Journal: | European Journal of Operational Research
1997 : APR 1, VOL. 98:1, p. 75-84 |
| Index terms: | OPERATIONAL RESEARCH MANAGEMENT COST VARIANCE |
| Language: | eng |
| Abstract: | In this paper, the authors study a modified minimal repair/replacement problem that is formulated as a Markov decision process. The operating cost is assumes to be a nondecreasing function of the system's age. The specific maintenance actions for a manufacturing system to be considered are whether to have replacement, minimal repair or keep it operating. It is shown that a control limit policy, or in particular a (t, T) policy, is optimal over over the space of all possible policies under the discounted cost criterion. |
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