Optimization problems of replacement first or last in reliability theory

• Published in: European journal of operational research Vol. 223; no. 1; pp. 141 - 149
• Main Authors: Zhao, Xufeng, Nakagawa, Toshio
• Format: Journal Article
• Language: English
• Published: Amsterdam Elsevier B.V 16.11.2012; Elsevier; Elsevier Sequoia S.A
• Subjects: Age replacement; Applied sciences; Comparative analysis; Cost engineering; Cost estimates; Cumulative damage model; Electronic systems; Exact sciences and technology; Inventory control, production control. Distribution; Mathematical analysis; Mathematical models; Minimal repair; Naval; Operational research and scientific management; Operational research. Management science; Operations research; Optimization; Periodic replacement; Policies; Queuing theory. Traffic theory; Reliability theory. Replacement problems; Replacement costs; Replacement last; Studies; Working cycle; Cumulative damage model; Working cycle; Age replacement; Replacement last; Periodic replacement; Minimal repair; Costs; Replacement problem; Optimal policy; Cumulative damage; Modeling; Optimization; Repair; Age; Completion time; Execution time; Operating time; Electronic equipment; Probabilistic approach; Rupture; Reliability theory; Replacement; Maintenance; Failures; Standards; Case study; Ship

► Newly proposed notion of “replacement last” is motivated and analyzed in detail. ► Comparison methods between replacement last and the conventional replacement first are explored. ► Expected cost rate of replacement last in a standard cumulative damage model is obtained and computed. ► Replacement...