Abstract
The author proposes a preventive replacement policy for a unit that is in demand only part of the time and is inactive otherwise. Under this policy, called a modified age replacement policy, the unit is replaced preventively at the first no-demand period at which its operational age exceeds some control limit. A marginal cost analysis is used to find the optimal control limit that minimizes the limiting conditional probability that the unit is down when it is demanded. A comparison is made of the optimal limiting conditional probability that the unit is down when it is demanded for the modified age replacement policy and the age replacement policy.
| Original language | English |
|---|---|
| Pages (from-to) | 584-595 |
| Number of pages | 12 |
| Journal | Operations Research |
| Volume | 32 |
| Issue number | 3 |
| DOIs | |
| State | Published - 1984 |
ASJC Scopus subject areas
- Computer Science Applications
- Management Science and Operations Research